Do Capital Market Imperfections Exacerbate Output Fluctuations?
Détails
ID Serval
serval:BIB_8C1799A732F3
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Institution
Titre
Do Capital Market Imperfections Exacerbate Output Fluctuations?
Périodique
European Economic Review
ISSN
0014-2921
Statut éditorial
Publié
Date de publication
2000
Peer-reviewed
Oui
Volume
44
Numéro
3
Pages
449-468
Langue
anglais
Résumé
We develop a dynamic general equilibrium macroeconomic model where a proportion of firms are credit constrained due to asymmetric information. In general, a macroeconomic shock has additional effects created by a reallocation of funds between credit-constrained and unconstrained firms. We show, however, that the output response to shocks is not necessarily amplified and can be dampened by the presence of asymmetric information.
Mots-clé
Credit market imperfection, Agency costs, Business cycles
Web of science
Création de la notice
19/11/2007 10:39
Dernière modification de la notice
20/08/2019 14:50