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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References listed on IDEAS
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- Pintus, Patrick A., 2011.
"Collateral constraints and the amplification-persistence trade-off,"
Elsevier, vol. 110(1), pages 64-66, January.
- Patrick-Antoine Pintus, 2009. "Collateral constraints and the amplification-persistence trade-off," Working Papers halshs-00439243, HAL.
- Nobuhiro Kiyotaki & John Moore, 1995.
NBER Working Papers
5083, National Bureau of Economic Research, Inc.
- Narayana R. Kocherlakota, 2000. "Creating business cycles through credit constraints," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Sum, pages 2-10.
- Juan Cordoba & Marla Ripoll, 2002.
"Credit Cycles Redux,"
- 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.
- 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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