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dc.contributor.authorTomura, Hajimeen
dc.date.accessioned2011-12-15T12:58:03Z-
dc.date.available2011-12-15T12:58:03Z-
dc.date.issued2007-
dc.identifier.pidoi:10.34989/swp-2007-17en
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
dc.language.isoengen
dc.publisher|aBank of Canada |cOttawaen
dc.relation.ispartofseries|aBank of Canada Working Paper |x2007-17en
dc.subject.jelD24en
dc.subject.jelE44en
dc.subject.jelG33en
dc.subject.ddc330en
dc.subject.keywordFinancial stabilityen
dc.subject.keywordProductivityen
dc.subject.stwUnternehmensfinanzierungen
dc.subject.stwFinanzmarkten
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwKonkursen
dc.subject.stwProduktivitäten
dc.subject.stwDynamisches Modellen
dc.subject.stwJapanen
dc.titleFirms dynamics, bankruptcy laws and total factor productivity-
dc.typeWorking Paperen
dc.identifier.ppn529373777en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:bca:bocawp:07-17en

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