Bubbles and unemployment in an endogenous growth model
نویسندگان
چکیده
منابع مشابه
Sectoral bubbles, misallocation, and endogenous growth
Stock price bubbles are often on productive assets and occur in a sector of the economy. In addition, their occurrence is often accompanied by credit booms. Incorporating these features, we provide a two-sector endogenous growth model with credit-driven stock price bubbles. Bubbles have a credit easing effect in that they relax collateral constraints and improve investment efficiency. Sectoral ...
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ژورنال
عنوان ژورنال: Oxford Economic Papers
سال: 2016
ISSN: 0030-7653,1464-3812
DOI: 10.1093/oep/gpw032