Arbeitspapier
Investor borrowing heterogeneity in a Kiyotaki-Moore style macro model
TWe allow for heterogeneity in investors' ability to borrow from collateral in a Kiyotaki-Moore style macro model. We calibrate the model to match the quintiles of the distri- bution of leverage ratios of US non-financial firms. We show that financial amplification of the model with heterogeneous investors can be orders of magnitude higher, because of more pronounced asset price reactions.
- Language
-
Englisch
- Bibliographic citation
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Series: FinMaP-Working Paper ; No. 24
- Classification
-
Wirtschaft
Business Fluctuations; Cycles
Financial Markets and the Macroeconomy
- Subject
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Collateral Constraints
Leverage
Heterogeneity
Financial Amplification
- Event
-
Geistige Schöpfung
- (who)
-
Punzi, Maria Teresa
Rabitsch, Katrin
- Event
-
Veröffentlichung
- (who)
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Kiel University, FinMaP - Financial Distortions and Macroeconomic Performance
- (where)
-
Kiel
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Punzi, Maria Teresa
- Rabitsch, Katrin
- Kiel University, FinMaP - Financial Distortions and Macroeconomic Performance
Time of origin
- 2014
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