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Rheinische Friedrich-Wilhelms-Universität Bonn >
Zentrum für Europäische Integrationsforschung (ZEI), Universität Bonn >
ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/39643
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | von Hagen, Jürgen | | en_US |
| dc.contributor.author | | Zhang, Haiping | | en_US |
| dc.date.accessioned | | 2007-04-25 | | en_US |
| dc.date.accessioned | | 2010-09-01T09:49:06Z | | - |
| dc.date.available | | 2010-09-01T09:49:06Z | | - |
| dc.date.issued | | 2006 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/39643 | | - |
| dc.description.abstract | | We address an important business cycle fact, i.e., the amplified and hump-shaped responses of output to productivity shocks, in a dynamic general equilibrium model with financial frictions. Models with financial frictions in the current literature have either the amplification mechanism or the propagation mechanism. Our model shows that the dynamic interaction of borrowing constraints, endogenous capital accumulation and capital reallocation among agents with different productivity constitutes a mechanism through which the effects of productivity shock on aggregate output are amplified and propagated, more in line with the empirical evidence than other related models in the literature. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | ZEI Bonn | | en_US |
| dc.relation.ispartofseries | | ZEI working paper B 03-2006 | | en_US |
| dc.subject.jel | | E32 | | en_US |
| dc.subject.jel | | E44 | | en_US |
| dc.subject.jel | | G3 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Amplification | | en_US |
| dc.subject.keyword | | Business cycles | | en_US |
| dc.subject.keyword | | Capital reallocation | | en_US |
| dc.subject.keyword | | Financial frictions | | en_US |
| dc.subject.keyword | | Propagation | | en_US |
| dc.subject.stw | | Konjunkturtheorie | | en_US |
| dc.subject.stw | | Investition | | en_US |
| dc.subject.stw | | Verschuldungsrestriktion | | en_US |
| dc.subject.stw | | Agency Theory | | en_US |
| dc.subject.stw | | Real Business Cycle | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Financial frictions, capital reallocation, and aggregate fluctuations | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 527776297 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| dc.identifier.repec | | RePEc:zbw:zeiwps:B032006 | | - |
| Appears in Collections: | | ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn
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