Administrative rationing and multiple equilibria
نویسندگان: ثبت نشده
چکیده مقاله:
In this paper, we introduce non-interest profit/loss sharing (PLS) banks into a three-period overlapping generations model. Two types, (low- and high quality) investments are assumed and capital accumulation and level of output in the steady state is considered. Then, administrative rationing is introduced to the model. It is shown that the level of capital accumulation and output in equilibrium are lower compared to the market solution.
منابع مشابه
administrative rationing and multiple equilibria
in this paper, we introduce non-interest profit/loss sharing (pls) banks into a three-period overlapping generations model. two types, (low- and high quality) investments are assumed and capital accumulation and level of output in the steady state is considered. then, administrative rationing is introduced to the model. it is shown that the level of capital accumulation and output in equilibriu...
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عنوان ژورنال
دوره 6 شماره 6
صفحات 37- 63
تاریخ انتشار 2002-01-01
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