Transitional Growth with Increasing Inequality and Financial Deepening:
We study models that display growth with financial deepening and increasing inequality along the way to perpetual steady state growth. A benchmark model is essentially a complete markets model but with transaction costs of financial intermediation. New proofs are required and thus provided for stoch...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2001
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Schriftenreihe: | IMF Working Papers
Working Paper No. 01/108 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | We study models that display growth with financial deepening and increasing inequality along the way to perpetual steady state growth. A benchmark model is essentially a complete markets model but with transaction costs of financial intermediation. New proofs are required and thus provided for stochastic dynamic programming for the case of unbounded return functions and perpetual growth with a non-convex transaction technology. We calibrate the model and report quantitative predictions for Thailand during 1976-96. We find a discrepancy between the model and the data, suspect barriers to financial deepening as a cause, and evaluate the associated welfare loss |
Beschreibung: | 1 Online-Ressource (84 p) |
ISBN: | 1451853106 9781451853100 |
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spelling | Ueda, Kenichi Verfasser aut Transitional Growth with Increasing Inequality and Financial Deepening Ueda, Kenichi Washington, D.C International Monetary Fund 2001 1 Online-Ressource (84 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 01/108 We study models that display growth with financial deepening and increasing inequality along the way to perpetual steady state growth. A benchmark model is essentially a complete markets model but with transaction costs of financial intermediation. New proofs are required and thus provided for stochastic dynamic programming for the case of unbounded return functions and perpetual growth with a non-convex transaction technology. We calibrate the model and report quantitative predictions for Thailand during 1976-96. We find a discrepancy between the model and the data, suspect barriers to financial deepening as a cause, and evaluate the associated welfare loss Online-Ausg http://elibrary.imf.org/view/IMF001/07492-9781451853100/07492-9781451853100/07492-9781451853100.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Ueda, Kenichi Transitional Growth with Increasing Inequality and Financial Deepening |
title | Transitional Growth with Increasing Inequality and Financial Deepening |
title_auth | Transitional Growth with Increasing Inequality and Financial Deepening |
title_exact_search | Transitional Growth with Increasing Inequality and Financial Deepening |
title_exact_search_txtP | Transitional Growth with Increasing Inequality and Financial Deepening |
title_full | Transitional Growth with Increasing Inequality and Financial Deepening Ueda, Kenichi |
title_fullStr | Transitional Growth with Increasing Inequality and Financial Deepening Ueda, Kenichi |
title_full_unstemmed | Transitional Growth with Increasing Inequality and Financial Deepening Ueda, Kenichi |
title_short | Transitional Growth with Increasing Inequality and Financial Deepening |
title_sort | transitional growth with increasing inequality and financial deepening |
url | http://elibrary.imf.org/view/IMF001/07492-9781451853100/07492-9781451853100/07492-9781451853100.xml |
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