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This paper analyzes the existence and the effects of bubbles in an endogenous growth model with financial frictions and heterogeneous investments. Bubbles are likely to emerge when the degree of pledgeability is in the middle range. This implies that improving the financial market might enhance...
Persistent link: https://www.econbiz.de/10013006482
This paper analyzes the existence and the effects of bubbles in an endogenous growth model with financial frictions and heterogeneous investments. Bubbles are likely to emerge when the degree of pledgeability is in the middle range. This suggests that improving the financial market might enhance...
Persistent link: https://www.econbiz.de/10013115684
Persistent link: https://www.econbiz.de/10003903475
Persistent link: https://www.econbiz.de/10009746077
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