Productivity Losses from Financial Frictions: Can Self-Finan

Productivity Losses from Financial Frictions: Can Self-Financing Undo Capital Misallocation?∗ pptx

... not depend on the boundedness of the productivity process in the present section. 19 Productivity Losses from Financial Frictions: Can Self-Financing Undo Capital Misallocation? ∗ Benjamin Moll Princeton ... upon request. 12 It may be precisely capital market imperfections within poor countries that bring down the return on capital thereby limiting capital ﬂows from...

Ngày tải lên: 29/03/2014, 18:20

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Financial Frictions and Total Factor Productivity: Accounting for the Real Effects of Financial Crises pot

... friction or the capital specificity alone have second order effects on total factor productivity. The financial market friction does cause a significant fall in output and TFP, but it cannot account ... recovery of the economy from the sudden stop, beginning from different values of initial capital. As expected, after the initial drop in output, the economy with lower initial capital gro...

Ngày tải lên: 15/03/2014, 22:20

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Credit Growth in Central and Eastern Europe: Emerging from Financial Repression to New (Over)Shooting Stars? potx

... indicate statistical signi…cance at the 10%, 5% and 1% signi…cance levels, respectively. 5.3 How Close to Equilibrium? We can now proceed with the calculation of the …tted values from the panel estimations ... 2, where the move from A”to B can b e decomposed in (a) the equilibrium credit growth, given by A” to B” and (b) the adjustment from initial undershooting to equilibrium (fr...

Ngày tải lên: 15/03/2014, 04:20

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