Excessive Financing Costs in a Representative Agent Framework
نویسندگان
چکیده
منابع مشابه
Consumer Heterogeneity and the Impact of Trade Liberalization: How Representative is the Representative Agent Framework?
While it is well established that across-country taste differences are associated with "home market effects", there is very limited analysis of how such preference heterogeneity impacts the aggregate volume of trade and the welfare gains from liberalization. I develop a structural model of aggregate demand featuring products with heterogeneous attributes, consumers with heterogeneous tastes for...
متن کاملFinancing Development: The Role of Information Costs
How does technological progress in financial intermediation affect the economy? To address this question a costly-state verification framework is embedded into a standard growth model. In particular, financial intermediaries can invest resources to monitor the returns earned by firms. The inability to monitor perfectly leads to firms earning rents. Undeserving firms are financed, while deservin...
متن کاملState costs of excessive alcohol consumption, 2006.
BACKGROUND Excessive alcohol consumption is responsible for an average of 80,000 deaths in the U.S. each year and cost $223.5 billion ($1.90/drink) in 2006. Comparable state estimates of this cost are needed to help inform prevention strategies. PURPOSE The goal of the study was to estimate the economic cost of excessive drinking by state for 2006. METHODS From December 2011 to November 201...
متن کاملa framework for identifying and prioritizing factors affecting customers’ online shopping behavior in iran
the purpose of this study is identifying effective factors which make customers shop online in iran and investigating the importance of discovered factors in online customers’ decision. in the identifying phase, to discover the factors affecting online shopping behavior of customers in iran, the derived reference model summarizing antecedents of online shopping proposed by change et al. was us...
15 صفحه اولWorldwide Trends in Financing Higher Education: A Conceptual Framework
The financing of higher education throughout the world has seen dramatic changes in the last decades of the 20 and the first decade of the 21 centuries. In the main, these changes in financing are responses to a worldwide phenomenon of higher educational costs tending to rise at rates considerably in excess of the corresponding rates of increase of available revenues, especially those revenues ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2016
ISSN: 1945-7707,1945-7715
DOI: 10.1257/mac.20140147