Expectation driven business cycles with limited enforcement
2014
Walentin, Karl
We explore shocks to expected future productivity in a model with limited enforcement of financial contracts. A microfounded collateral constraint implies that good news about future productivity yield an increase in stock prices, available credit and a general economic expansion.
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书目信息
出版者
Elsevier B.V.
其它主题
Financial agreements; News shocks; E32; E22; E44; Collateral constraints; Stock prices
语言
英语
类型
Journal Article; Text
2024-02-28
MODS