Endogenous cycles in a Stiglitz-Weiss economy

Detalhes bibliográficos
Autor(a) principal: Sussman, Oren
Data de Publicação: 1996
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/12345
Resumo: The literature on financiaI imperfections and business cycles has focused on propagation mechanisms. In this pape r we model apure reversion mechanism, such that the economy may converge to a two period equilibrium cycle. This mechanism confirms that financiaI imperfections may have a dramatic amplification effect. Unlike in some related models, contracts are complete. Indexation is not assumed away. The welfare properties of a possible stabilizing policy are analyzed. The model i tself is a dynamic extension of the well-known Stigli tz-Weiss model of lending under moral hazard. Although stylized the model still captures some important features of credit cycles.
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spelling Sussman, OrenEscolas::EPGEFGV2014-11-07T11:48:27Z2014-11-07T11:48:27Z1996-10-02http://hdl.handle.net/10438/12345The literature on financiaI imperfections and business cycles has focused on propagation mechanisms. In this pape r we model apure reversion mechanism, such that the economy may converge to a two period equilibrium cycle. This mechanism confirms that financiaI imperfections may have a dramatic amplification effect. Unlike in some related models, contracts are complete. Indexation is not assumed away. The welfare properties of a possible stabilizing policy are analyzed. The model i tself is a dynamic extension of the well-known Stigli tz-Weiss model of lending under moral hazard. Although stylized the model still captures some important features of credit cycles.engEscola de Pós-Graduação em Economia da FGVSeminários de pesquisa econômica da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessEndogenous cycles in a Stiglitz-Weiss economyinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaCiclos econômicosreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL000089355.pdf000089355.pdfapplication/pdf1049349https://repositorio.fgv.br/bitstreams/f1aee841-b747-4336-81e7-2858b99af1a2/downloadb086c7ef6f103d9a1051883bf0bc25beMD51LICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/f08eb53d-df84-49a0-914c-411f26b7b535/downloaddfb340242cced38a6cca06c627998fa1MD52TEXT000089355.pdf.txt000089355.pdf.txtExtracted 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dc.title.eng.fl_str_mv Endogenous cycles in a Stiglitz-Weiss economy
title Endogenous cycles in a Stiglitz-Weiss economy
spellingShingle Endogenous cycles in a Stiglitz-Weiss economy
Sussman, Oren
Economia
Ciclos econômicos
title_short Endogenous cycles in a Stiglitz-Weiss economy
title_full Endogenous cycles in a Stiglitz-Weiss economy
title_fullStr Endogenous cycles in a Stiglitz-Weiss economy
title_full_unstemmed Endogenous cycles in a Stiglitz-Weiss economy
title_sort Endogenous cycles in a Stiglitz-Weiss economy
author Sussman, Oren
author_facet Sussman, Oren
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Sussman, Oren
dc.subject.area.por.fl_str_mv Economia
topic Economia
Ciclos econômicos
dc.subject.bibliodata.por.fl_str_mv Ciclos econômicos
description The literature on financiaI imperfections and business cycles has focused on propagation mechanisms. In this pape r we model apure reversion mechanism, such that the economy may converge to a two period equilibrium cycle. This mechanism confirms that financiaI imperfections may have a dramatic amplification effect. Unlike in some related models, contracts are complete. Indexation is not assumed away. The welfare properties of a possible stabilizing policy are analyzed. The model i tself is a dynamic extension of the well-known Stigli tz-Weiss model of lending under moral hazard. Although stylized the model still captures some important features of credit cycles.
publishDate 1996
dc.date.issued.fl_str_mv 1996-10-02
dc.date.accessioned.fl_str_mv 2014-11-07T11:48:27Z
dc.date.available.fl_str_mv 2014-11-07T11:48:27Z
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url http://hdl.handle.net/10438/12345
dc.language.iso.fl_str_mv eng
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dc.relation.ispartofseries.por.fl_str_mv Seminários de pesquisa econômica da EPGE
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
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