Articles with "consequences dynamic" as a keyword



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Aggregate consequences of dynamic credit relationships

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Published in 2018 at "Review of Economic Dynamics"

DOI: 10.1016/j.red.2017.12.001

Abstract: Which financial frictions matter in the aggregate? This paper presents a general equilibrium model in which entrepreneurs finance a firm with a long-term contract. The contract is constrained efficient because firm revenue is costly to… read more here.

Keywords: contract; consequences dynamic; moral hazard; aggregate consequences ... See more keywords