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Credit constraints, asset prices, an...

Ahmed, Faisal.

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Credit constraints, asset prices, and business cycles.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Credit constraints, asset prices, and business cycles./
作者:	Ahmed, Faisal.
面頁冊數:	52 p.
附註:	Source: Dissertation Abstracts International, Volume: 65-09, Section: A, page: 3509.
Contained By:	Dissertation Abstracts International65-09A.
標題:	Economics, Theory. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3148329
ISBN:	0496068776

Credit constraints, asset prices, and business cycles.
Ahmed, Faisal.

Credit constraints, asset prices, and business cycles. - 52 p.

Source: Dissertation Abstracts International, Volume: 65-09, Section: A, page: 3509.

Thesis (Ph.D.)--University of Minnesota, 2004.

An open economy version of a neoclassical growth model is presented to study how credit constraints, where debt capacity of the representative agent is set to the collateral value of some fixed asset, can serve as a transmission mechanism for shocks. We compute the quantitative significance of technology and collateral shocks on output and asset prices. For reasonable parameter values that broadly match the features of the Thai economy, we find that technology shocks can leave persistent and amplified effects on output and asset prices through the credit channel. Collateral shock amplifies the output and asset price declines. We also show that higher complementarity between land and capital amplifies the technology shocks.

ISBN: 0496068776Subjects--Topical Terms:

1017575
Economics, Theory.

Credit constraints, asset prices, and business cycles.
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100 1 $a Ahmed, Faisal. $3 1933327
245 1 0 $a Credit constraints, asset prices, and business cycles.
300 $a 52 p.
500 $a Source: Dissertation Abstracts International, Volume: 65-09, Section: A, page: 3509.
500 $a Adviser: Varadarajan V. Chari.
502 $a Thesis (Ph.D.)--University of Minnesota, 2004.
520 $a An open economy version of a neoclassical growth model is presented to study how credit constraints, where debt capacity of the representative agent is set to the collateral value of some fixed asset, can serve as a transmission mechanism for shocks. We compute the quantitative significance of technology and collateral shocks on output and asset prices. For reasonable parameter values that broadly match the features of the Thai economy, we find that technology shocks can leave persistent and amplified effects on output and asset prices through the credit channel. Collateral shock amplifies the output and asset price declines. We also show that higher complementarity between land and capital amplifies the technology shocks.
520 $a The dissertation is organized as follows. Chapter 1 provides introduction and a brief review of the literature on credit constraints and business cycles. Chapter 2 discusses empirical evidence on the presence of credit constraints and provides selected evidence from Thailand and contains the model. Chapter 3 contains the calibration of parameter values and the results of several experiments. Chapter 4 concludes.
590 $a School code: 0130.
650 4 $a Economics, Theory. $3 1017575
650 4 $a Economics, Finance. $3 626650
690 $a 0511
690 $a 0508
710 2 0 $a University of Minnesota. $3 676231
773 0 $t Dissertation Abstracts International $g 65-09A.
790 1 0 $a Chari, Varadarajan V., $e advisor
790 $a 0130
791 $a Ph.D.
792 $a 2004
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3148329