Collateralized capital and news-driven cycles
Kobayashi, Nakajima, and Inaba (2007) show that in the neoclassical business cycle models with collateral constraints, a boom can be generated in response to an optimistic change in expectations on the future state of the economy. They call this business cycle a news-driven cycle. In their models, l...
|Place of publication:||
|published in:||Economics bulletin Vol. 5; no. 18; pp. 1 - 9|
|Data of publication:||2007|
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