Collateral constraints and the amplification-persistence trade-off
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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- Cordoba, Juan Carlos & Ripoll, Marla, 2010.
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- Patrick-Antoine Pintus, 2009.
"Collateral constraints and the amplification-persistence trade-off,"
- Pintus, Patrick A., 2011. "Collateral constraints and the amplification-persistence trade-off," Economics Letters, Elsevier, vol. 110(1), pages 64-66, January.
- Narayana R. Kocherlakota, 2000. "Creating business cycles through credit constraints," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Sum, pages 2-10.
- Pierre‐André Chiappori & Monica Paiella, 2011.
"Relative Risk Aversion Is Constant: Evidence From Panel Data,"
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- 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.
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