Financial Frictions and the Persistence of History: A Quantitative Exploration
收藏NBER2010-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w16400
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资源简介：
We quantify the role of financial frictions and the initial misallocation of resources in explaining development dynamics. Following a reform that triggers efficient reallocation of resources, our model economy with financial frictions converges slowly to the new steady state--it takes twice as long
提供机构：
美国国家经济研究局
创建时间：
2010-09-01
