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Collateral constraints and the amplification-persistence trade-off

  • Pintus, Patrick A.

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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File URL: http://www.sciencedirect.com/science/article/B6V84-519DF1P-1/2/8d296e786a7dc5d3912da2b74801c56c
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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
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Narayana R. Kocherlakota, 2000. "Creating business cycles through credit constraints," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Sum, pages 2-10.
  2. Pierre-André Chiappori & Monica Paiella, 2008. "Relative Risk Aversion Is Constant: Evidence from Panel Data," Discussion Papers 5_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
  3. Pintus, Patrick A., 2011. "Collateral constraints and the amplification-persistence trade-off," Economics Letters, Elsevier, vol. 110(1), pages 64-66, January.
  4. 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.
  5. Kiyotaki, Nobuhiro & Moore, John, 1997. "Credit Cycles," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 211-48, April.
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