Financial Integration, Growth and Volatility
نویسندگان
چکیده
منابع مشابه
Endogenous Financial Development, Growth and Volatility∗
The paper develops a model in which both long–run growth rates and credit market development are endogenous. Agents facing idiosyncratic productivity shocks cannot perfectly commit to repay their loans, but the threat of credit market exclusion specifies endogenous debt limits preventing default in equilibrium. A growth push makes credit market participation more valuable and relaxes debt limit...
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I revisit the Great Inflation and the Great Moderation for nominal and real variables. I document a dichotomy in the evolution of the cyclical volatility of financial variables since the mid-1980s. While financial price variables are smoother during the Great Moderation, financial quantity measures experience an immoderation. A model with financial frictions and financial shocks allowing for st...
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ژورنال
عنوان ژورنال: Pacific Economic Review
سال: 2016
ISSN: 1361-374X
DOI: 10.1111/1468-0106.12177