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Collateral constraints and the amplification-persistence trade-off

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  • Pintus, Patrick A.

Abstract

This note shows - in a general-equilibrium, two-agent model featuring concave utility and production functions and neo-classical input accumulation - that the amplification and persistence of the impact of temporary shocks to aggregate productivity go hand in hand.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 110 (2011)
Issue (Month): 1 (January)
Pages: 64-66

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Handle: RePEc:eee:ecolet:v:110:y:2011:i:1:p:64-66

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Collateral constraints Amplification and persistence of aggregate shocks;

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  1. Juan-Carlos Cordoba & Marla Ripoll, 2004. "Credit Cycles Redux," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 45(4), pages 1011-1046, November.
  2. Kiyotaki, Nobuhiro & Moore, John, 1997. "Credit Cycles," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 211-48, April.
  3. Pierre‐André Chiappori & Monica Paiella, 2011. "Relative Risk Aversion Is Constant: Evidence From Panel Data," Journal of the European Economic Association, European Economic Association, vol. 9(6), pages 1021-1052, December.
  4. Narayana R. Kocherlakota, 2000. "Creating business cycles through credit constraints," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Sum, pages 2-10.
  5. Pintus, Patrick A., 2011. "Collateral constraints and the amplification-persistence trade-off," Economics Letters, Elsevier, vol. 110(1), pages 64-66, January.
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Cited by:
  1. Caterina Mendicino, 2009. "On the Amplification Role of Collateral Constraints," 2009 Meeting Papers 1013, Society for Economic Dynamics.
  2. Pintus, Patrick A., 2011. "Collateral constraints and the amplification-persistence trade-off," Economics Letters, Elsevier, vol. 110(1), pages 64-66, January.

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