Search Results - subject:"Borrowing constraints"

Borrowing Constraints, Entrepreneurial Risks, and the Wealth Distribution in a Heterogeneous Agent Model

Clemens, Christiane; Heinemann, Maik - Fakultät für Wirtschaftswissenschaft, … - 2008

comparative static results cover the entire range of borrowing constraints, from complete markets to a perfectly constrained …. Interestingly, the amount of entrepreneurial activity and social mobility increases if borrowing constraints become more tight …

Persistent link: https://www.econbiz.de/10005533245

"Borrowing Constraints, Parental Altruism and Welfare"

Soares, Jorge - Department of Economics, Lerner College of Business and … - 2008

This paper investigates the impact of borrowing constraints on welfare in a standard overlapping-generations model … long-run. Additionally, borrowing constraints reduce investment on children's education, decreasing the aggregate level of …

Persistent link: https://www.econbiz.de/10005487484

Public Spending Shocks in a Liquidity Constrained Economy

Ragot, Xavier; Challe, Edouard - Université Paris-Dauphine (Paris IX) - 2008

-lived households face occasionally binding borrowing constraints and store wealth to smooth out idiosyncratic income fluctuations. Debt … stock of liquidity also loosens the borrowing constraints faced by firms, thereby raising labour demand and possibly the …

Persistent link: https://www.econbiz.de/10010861556

Incomplete Markets and the Output-Inflation Tradeoff

Ragot, Xavier; Challe, Edouard; Algan, Yann - Université Paris-Dauphine (Paris IX) - 2008

This paper analyses the e¤ects of money shocks on macroeconomic aggregates within a flexible price, incomplete markets environment that generates persistent wealth inequalities amongst agents. In this framework, unexpected money shocks redistribute wealth from the cash-rich employed to the...

Persistent link: https://www.econbiz.de/10011073778

Incomplete Markets and the Output-inflation Tradeoff

Algan, Yann; Challe, Edouard; Ragot, Xavier - Sciences économiques, Sciences Po - 2008

This paper analyses the effects of money shocks on macroeconomic aggregates in a flexible-price, incomplete-markets environment that generates persistent wealth inequalities amongst agents. In this framework, unexpected money shocks redistribute wealth from the cash-rich employed to the...

Persistent link: https://www.econbiz.de/10010929048

Incomplete markets and the output-inflation tradeoff

Algan, Yann; Challe, Edouard; Ragot, Xavier - HAL - 2008

Persistent link: https://www.econbiz.de/10010930190

On the importance of borrowing constraints for house price dynamics

Eerola, Essi; Määttänen, Niku - Suomen Pankki - 2008

We study how a household borrowing constraint the the form of a down payment requirement affects house price dynamics in an OLG model with standard preferences. We find that in certain situations the borrowing constraint shapes house price dynamics substantially. The importance of the constraint...

Persistent link: https://www.econbiz.de/10005648901

Credit constraints in education: Evidence from international data

Mimoun, Mohamed Ben - In: Journal of Applied Economics XI (2008) May, pp. 33-60

This paper tests empirically the credit-constraints thesis by using cross-country data on secondary and higher-education enrolment rates. Contrary to some previous works in this direction, we find several pieces of evidence that support the importance of such a thesis. First, controlling for the...

Persistent link: https://www.econbiz.de/10005624090

The Long-run Effects of Household Liquidity Constraints and Taxation on Fertility, Education, Saving and Growth

Papagni, Erasmo - Volkswirtschaftliche Fakultät, … - 2008

This paper investigates economic growth under liquidity constraints by taking into account the choices of fertility, human capital and saving. In a model of four overlapping generations, parents are altruistic towards their offspring and finance their education investment. The government...

Persistent link: https://www.econbiz.de/10005789532

Incomplete Markets and the Output-inflation Tradeoff

Ragot, Xavier; Allais, Olivier; Challe, Edouard; Algan, Yann - Department of Economics, Sciences économiques - 2008

Persistent link: https://www.econbiz.de/10010756743