1 option
Volatility and growth / Philippe Aghion and Abhijit Banerjee.
- Format:
- Book
- Author/Creator:
- Aghion, Philippe.
- Series:
- Clarendon Lectures in Economics
- Language:
- English
- Subjects (All):
- Endogenous growth (Economics)--Mathematical models.
- Endogenous growth (Economics).
- Business cycles.
- Credit.
- Physical Description:
- 1 online resource (159 p.)
- Place of Publication:
- Oxford ; New York : Oxford University Press, 2005.
- Language Note:
- English
- Summary:
- It has long been recognized that productivity growth and the business cycle are closely interrelated. Yet, until recently, the two phenomena have been investigated separately in the economics literature. This book provides the first consistent attempt to analyze the effects of macroeconomic volatility on productivity growth, and also the reverse causality from growth to business cycles. The authors show that by looking at the economy through the lens of private entrepreneurs, whoinvest under credit constraints, one can go some way towards explaining persistent macroeconomic volatility and the
- Contents:
- Modeling credit markets
- Volatility and growth: AK versus Schumpeterian approach
- Financial development and the effects of volatility on growth
- Endogeneizing volatility: pecuniary externalities and the credit channel
- Endogenous volatility in an open economy
- The third generation approach to currency crises.
- Notes:
- Description based upon print version of record.
- Description based on print version record.
- Includes bibliographical references and index.
- ISBN:
- 9786610754212
- 1-280-75421-4
- 0-19-153023-9
- 1-4356-2245-6
- OCLC:
- 191069855
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.