Credit cycles redux

被引：57

作者：

Cordoba, JC

Ripoll, M

机构：

[1] Rice Univ, Dept Econ, Houston, TX 77005 USA

[2] Univ Pittsburgh, Pittsburgh, PA 15260 USA

来源：

INTERNATIONAL ECONOMIC REVIEW | 2004年 / 45卷 / 04期

关键词：

D O I：

10.1111/j.0020-6598.2004.00296.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Theoretical studies have shown that under unorthodox assumptions on preferences and production technologies, collateral constraints can act as a powerful amplification and propagation mechanism of exogenous shocks. We investigate whether or not this result holds under more standard assumptions. We find that collateral constraints typically generate small output amplification. Large amplification is obtained as a "knife-edge" type of result.

引用

页码：1011 / 1046

页数：36

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