Volatility and growth /
Aghion, Philippe.
Volatility and growth / Philippe Aghion and Abhijit Banerjee. - Oxford ; New York : Oxford University Press, 2005. - viii, 148 p. : ill. ; 22 cm.
Includes bibliographical references and index.
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. TOC
"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. Using both, simple theoretical models and empirical analysis, the authors show that by looking at the economy through the lens of private entrepreneurs, who invest under credit constraints, one can go a long way towards explaining persistent macroeconomic volatility and the effects of volatility on growth. At the same time, they propose a new approach to analyze the impact of macroeconomic policies on long run growth and the design of stabilisation programs."--Jacket.
0199248613 (alk. paper) 9780199248612
2005019572
Endogenous growth (Economics)--Mathematical models.
Business cycles.
Credit.
HD75 / .A3394 2005
338.542015118 / AGV2005
Volatility and growth / Philippe Aghion and Abhijit Banerjee. - Oxford ; New York : Oxford University Press, 2005. - viii, 148 p. : ill. ; 22 cm.
Includes bibliographical references and index.
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. TOC
"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. Using both, simple theoretical models and empirical analysis, the authors show that by looking at the economy through the lens of private entrepreneurs, who invest under credit constraints, one can go a long way towards explaining persistent macroeconomic volatility and the effects of volatility on growth. At the same time, they propose a new approach to analyze the impact of macroeconomic policies on long run growth and the design of stabilisation programs."--Jacket.
0199248613 (alk. paper) 9780199248612
2005019572
Endogenous growth (Economics)--Mathematical models.
Business cycles.
Credit.
HD75 / .A3394 2005
338.542015118 / AGV2005