Volatility and growth / Philippe Aghion and Abhijit Banerjee.
By: Aghion, Philippe.
Contributor(s): Banerjee, Abhijit V.Material type: TextPublisher: Oxford ; New York : Oxford University Press, 2005Description: viii, 148 p. : ill. ; 22 cm.ISBN: 0199248613 (alk. paper); 9780199248612.Subject(s): Endogenous growth (Economics) -- Mathematical models | Business cycles | CreditDDC classification: 338.542015118 Online resources: Table of contents only | Publisher description | Contributor biographical information | WorldCat details | E-Book Fulltext
|Item type||Current location||Collection||Call number||Status||Date due||Barcode||Item holds|
|E-Book||EWU Library E-book||Non-fiction||338.542015118 AGV2005 (Browse shelf)||Not for loan|
|Text||EWU Library Reserve Section||Non-fiction||338.542015118 AGV2005 (Browse shelf)||Not For Loan||27321|
Includes bibliographical references and index.
Table of contents 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.
"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.