Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment
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We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and a long-term productivity-enhancing one. Because it takes
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美国国家经济研究局创建时间：
2005-05-01
