Volatility and Growth: Credit Constraints and the Composition of Investment

How does uncertainty and credit constraints affect the cyclical composition of investment and thereby volatility and growth? This paper addresses this question within a model where firms engage in two types of investment: a short-term one; and a long-term one, which contributes more to productivity...

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Bibliographic Details
Main Authors: Aghion, Philippe (Author), Angeletos, George-Marios (Contributor), Banerjee, Abhijit (Contributor), Manova, Kalina (Author)
Other Authors: Massachusetts Institute of Technology. Department of Economics (Contributor)
Format: Article
Language:English
Published: Elsevier, 2010-03-05T18:53:28Z.
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