Creating Business Cycles Through Credit Constraints
نویسندگان
چکیده
منابع مشابه
Creating Business Cycles Through Credit Constraints
Business cycles appear to be large, persistent, and asymmetric relative to the shocks hitting the economy. This observation suggests the existence of an asymmetric amplification and propagation mechanism, which transforms the shocks into the observed movements in aggregate output. This article demonstrates, in a small open economy, how credit constraints can be such a mechanism. The article als...
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ژورنال
عنوان ژورنال: Quarterly Review
سال: 2000
ISSN: 0271-5287
DOI: 10.21034/qr.2431