A Two-Sector Growth Model with Credit Market Imperfections and Production Externalities

Kunieda, Takuma, Nishimura, Kazuo

doi:10.1007/978-981-13-0605-1_5

Description

A two-sector dynamic general equilibrium model with financial constraints and production externalities is studied. Agents face idiosyncratic productivity shocks in each period. Agents who draw high productivity borrow resources in the financial market and become capital producers, whereas agents who draw low productivity become lenders. We analyze how the interaction between the extent of financial constraints and sector-specific production externalities affects the characterization of equilibria in a two-sector economy.

Journal

Advances in Mathematical Economics

Advances in Mathematical Economics 22 117-137, 2018

Springer

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CRID: 1050012570392304896

NII Article ID: 120006873040

DOI: 10.1007/978-981-13-0605-1_5

ISSN: 18662234; 18662226

HANDLE: 20.500.14094/90007261

Web Site: http://link.springer.com/content/pdf/10.1007/978-981-13-0605-1_5

Text Lang: en

Article Type: journal article

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A Two-Sector Growth Model with Credit Market Imperfections and Production Externalities

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