Financial Frictions, Capital Reallocation, and Aggregate Fluctuations

Financial Frictions, Capital Reallocation, and Aggregate Fluctuations

We address an important business cycle fact, i.e., the amplified and hump-shaped responses of output to productivity shocks, in a dynamic general equilibrium model with financial frictions. Models with financial frictions in the current literature have either the amplification mechanism or the propa...

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Bibliographic Details
Main Authors: Von Hagen, Jürgen, ZHANG, Haiping
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2008
Subjects:
Amplification
Business cycles
Capital reallocation
Financial frictions
Propagation
Economic Theory
Finance
Industrial Organization
Online Access:https://ink.library.smu.edu.sg/soe_research/185
https://ink.library.smu.edu.sg/context/soe_research/article/1184/viewcontent/JEDC_vonHagen_Zhang.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soe_research/185
https://ink.library.smu.edu.sg/context/soe_research/article/1184/viewcontent/JEDC_vonHagen_Zhang.pdf

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