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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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2008
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| Subjects: | |
| 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 |