Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212405 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
Bank of Finland Research Discussion Papers No. 34/2017
Verlag: 
Bank of Finland, Helsinki
Zusammenfassung: 
We develop a business cycle model with gross flows of firm creation and destruction.The credit market is characterized by two frictions. First,entrepreneurs undergo a costly search for intermediate funding to create a firm. Second, upon a match, a costlystate-verification contract is set up. When defaults occurs, banks monitor firms, seize their assets, and a fraction of financial relationships are severed. The model is estimated using Bayesian methods for the U.S. economy. Among other shocks, uncertainty in productivity turns out to be a major contributor to both macro-financial aggregates and firm dynamics.
JEL: 
D8
E3
E4
E5
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-323-197-9
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe





Publikationen in EconStor sind urheberrechtlich geschützt.