Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/79346
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Full metadata record
DC Field | Value | Language |
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dc.contributor.author | Harrison, S. | - |
dc.contributor.author | Weder, M. | - |
dc.date.issued | 2013 | - |
dc.identifier.citation | Macroeconomic Dynamics, 2013; 17(5):1055-1069 | - |
dc.identifier.issn | 1365-1005 | - |
dc.identifier.issn | 1469-8056 | - |
dc.identifier.uri | http://hdl.handle.net/2440/79346 | - |
dc.description.abstract | We examine a general equilibrium model with collateral constraints and increasing returns to scale in production. The utility function is nonseparable, with no income effect on the consumer’s choice of leisure. Unlike this model without a collateral constraint, we find that indeterminacy of equilibria is possible. Hence, business cycles can be driven by self-fulfilling expectations. This is the case for more realistic parameterizations than in previous, similar models without these features. | - |
dc.description.statementofresponsibility | Sharon G. Harrison and Mark Weder | - |
dc.language.iso | en | - |
dc.publisher | Cambridge Univ Press | - |
dc.rights | © 2012 Cambridge University Press | - |
dc.source.uri | http://dx.doi.org/10.1017/s1365100511000836 | - |
dc.subject | Business cycles | - |
dc.subject | credit markets | - |
dc.subject | collateral constraint | - |
dc.subject | sunspots | - |
dc.title | Sunspots and credit frictions | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1017/S1365100511000836 | - |
pubs.publication-status | Published | - |
Appears in Collections: | Aurora harvest Economics publications |
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RA_hdl_79346.pdf Restricted Access | Restricted Access | 184.45 kB | Adobe PDF | View/Open |
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