Borrowing constraints and complex dynamics in an OLG framework
Abstract: In this paper we model an OLG economy à la Kiyotaki and Moore whose novel feature is the role of money as a store of value and of bequest as a source of funds to be "invested" in landholding. The dynamics generated by the model are generally characterized by irregular cyclical trajectories and, under special con.guration of the parameters, a strange attractor appears. In this setting, an expansionary monetary policy may have a stabilizing role due to the interaction between money holding and the accumulation of borrowers' net worth
- Standort
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Deutsche Nationalbibliothek Frankfurt am Main
- Umfang
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Online-Ressource
- Sprache
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Englisch
- Anmerkungen
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Postprint
begutachtet (peer reviewed)
In: Journal of Economic Behavior & Organization ; 72 (2009) 2 ; 656–669
- Klassifikation
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Wirtschaft
- Ereignis
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Veröffentlichung
- (wo)
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Mannheim
- (wann)
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2009
- Urheber
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Assenza, Tiziana
Agliari, Anna
Gatti, Domenico Delli
Santoro, Emiliano
- DOI
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10.1016/j.jebo.2009.07.011
- URN
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urn:nbn:de:0168-ssoar-315129
- Rechteinformation
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Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
- Letzte Aktualisierung
-
25.03.2025, 13:45 MEZ
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Beteiligte
- Assenza, Tiziana
- Agliari, Anna
- Gatti, Domenico Delli
- Santoro, Emiliano
Entstanden
- 2009
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