Descriptor: "Credit market friction" / Search Limiters: Peer Reviewed - Searchworks@Jio Institute Digital Library Search Results

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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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Author: Hongxi Lin, Honggang Li, Jiefei Yu, and Tongkui Yu
Subjects: Complex dynamics, Macroeconomic model, Industrial upgrading, Feedback effect, Net worth, Credit market friction, Economics, Chaos, Physics and Astronomy(all), Industrial trap, Productivity, Industrial organization
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.
Published: 2010
Full Text: View/download PDF

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