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dc.contributor.authorTomura, Hajimeen_US
dc.date.accessioned2011-12-15T12:58:03Z-
dc.date.available2011-12-15T12:58:03Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/53908-
dc.description.abstractThis paper analyzes endogenous fluctuations in total factor productivity (TFP) in a dynamic general equilibrium model with heterogeneous agents, and illustrates the interaction of credit market frictions, asset prices, the entry and exit of firms, and fluctuations in TFP in response to firm-level productivity and aggregate credit-market shocks. I also analyze the effect of bankruptcy and foreclosure laws on fluctuations in TFP through their effect on credit market frictions. Implications of the model are consistent with the features of the stagnation in Japan in the 1990s.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2007,17en_US
dc.subject.jelD24en_US
dc.subject.jelE44en_US
dc.subject.jelG33en_US
dc.subject.ddc330en_US
dc.subject.keywordFinancial stabilityen_US
dc.subject.keywordProductivityen_US
dc.subject.stwUnternehmensfinanzierungen_US
dc.subject.stwFinanzmarkten_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwKonkursen_US
dc.subject.stwProduktivitäten_US
dc.subject.stwDynamisches Modellen_US
dc.subject.stwJapanen_US
dc.titleFirms dynamics, bankruptcy laws and total factor productivityen_US
dc.typeWorking Paperen_US
dc.identifier.ppn529373777en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Working Papers

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