Credit Markets and Stagnation in an Endogenous Growth Model:
This paper studies the effects that the inability of individuals to borrow against future income has on economic growth. The model assumes that human capital, which is accumulated through education, is the only factor of production. It is shown that liquidity constraints reduce growth. Further, in t...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1993
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Schriftenreihe: | IMF Working Papers
Working Paper No. 93/72 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper studies the effects that the inability of individuals to borrow against future income has on economic growth. The model assumes that human capital, which is accumulated through education, is the only factor of production. It is shown that liquidity constraints reduce growth. Further, in the presence of externalities that may induce two equilibria, it is shown that liquidity constraints not only reduce the rate of growth in the high-growth equilibrium, but can also make the low-growth equilibrium more likely to occur |
Beschreibung: | 1 Online-Ressource (22 p) |
ISBN: | 1451959087 9781451959086 |
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index_date | 2024-07-03T20:13:16Z |
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spelling | De Gregorio, Jose Verfasser aut Credit Markets and Stagnation in an Endogenous Growth Model De Gregorio, Jose Washington, D.C International Monetary Fund 1993 1 Online-Ressource (22 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 93/72 This paper studies the effects that the inability of individuals to borrow against future income has on economic growth. The model assumes that human capital, which is accumulated through education, is the only factor of production. It is shown that liquidity constraints reduce growth. Further, in the presence of externalities that may induce two equilibria, it is shown that liquidity constraints not only reduce the rate of growth in the high-growth equilibrium, but can also make the low-growth equilibrium more likely to occur Online-Ausg http://elibrary.imf.org/view/IMF001/01439-9781451959086/01439-9781451959086/01439-9781451959086.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | De Gregorio, Jose Credit Markets and Stagnation in an Endogenous Growth Model |
title | Credit Markets and Stagnation in an Endogenous Growth Model |
title_auth | Credit Markets and Stagnation in an Endogenous Growth Model |
title_exact_search | Credit Markets and Stagnation in an Endogenous Growth Model |
title_exact_search_txtP | Credit Markets and Stagnation in an Endogenous Growth Model |
title_full | Credit Markets and Stagnation in an Endogenous Growth Model De Gregorio, Jose |
title_fullStr | Credit Markets and Stagnation in an Endogenous Growth Model De Gregorio, Jose |
title_full_unstemmed | Credit Markets and Stagnation in an Endogenous Growth Model De Gregorio, Jose |
title_short | Credit Markets and Stagnation in an Endogenous Growth Model |
title_sort | credit markets and stagnation in an endogenous growth model |
url | http://elibrary.imf.org/view/IMF001/01439-9781451959086/01439-9781451959086/01439-9781451959086.xml |
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