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1. Complex dynamics of industrial transferring in a credit-constrained economy.

Author

Yu, Tongkui, Yu, Jiefei, Li, Honggang, and Lin, Hongxi

Subjects
CREDIT, FINANCIAL markets, CHAOS theory, ECONOMIC models, INDUSTRIAL policy, PRODUCTION (Economic theory), ECONOMIC impact, ECONOMIC equilibrium
Abstract

Abstract: We present a simple industrial transferring macroeconomic model where credit constrained agents may invest projects of different industries. The feedback effect between agent’s net worth and credit composition among industries with different productivity gives rise to complex aggregation dynamics including unique equilibrium, multiple-equilibrium, cycle and chaos. These dynamics replicate many industry transferring patterns and provide economic implications for industry policy. [ABSTRACT FROM AUTHOR]

Published
2010
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