impact of credit frictions onto business cycles and they almost unambiguously find that credit frictions work as an amplification mechanism of other shocks
Many papers look at the impact of credit frictions onto business cycles and they almost unambiguous Show more Many papers look at the impact of credit frictions onto business cycles and they almost unambiguously find that credit frictions work as an amplification mechanism of other shocks. For example given a stronger negative total factor productivity shock the existence of borrowing frictions will lead to higher firm death devaluation of capital and in general stronger impact on the real economy. A lot of these models (in the tradition of Kiyotaki and Moore) have finite periods and just illustrate the amplification mechanisms. Have there been attempts that actually tries to look at credit frictions themselves as the source of business cycles? Show less
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impact of credit frictions onto business cycles and they almost unambiguously find that credit frictions work as an amplification mechanism of other shocks was first posted on June 3, 2020 at 1:06 am.
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