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Entrepreneurship with borrowing constraints in a model of economic development

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  • Gian Luca Clementi

    (New York University)

  • Aubhik Khan

    (Federal Reserve Bank of Philadelphia)

  • Rui Casto

    (University of Montreal)

Abstract

An extension of our basic model introduces sectoral production and endogenises the set of sectors active at any time. This allows us to address cross-country evidence on the higher relative price of investment

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Bibliographic Info

Paper provided by Society for Economic Dynamics in its series 2007 Meeting Papers with number 856.

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Date of creation: 2007
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Handle: RePEc:red:sed007:856

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Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Fax: 1-314-444-8731
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Web page: http://www.EconomicDynamics.org/society.htm
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  1. Marco Cagetti & Mariacristina De Nardi, 2005. "Entrepreneurship, frictions, and wealth," Working Paper Series WP-05-09, Federal Reserve Bank of Chicago.
  2. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
  3. Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
  4. Edward C. Prescott, 1997. "Needed: a theory of total factor productivity," Staff Report 242, Federal Reserve Bank of Minneapolis.
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