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...
Main Authors: | Aghion, Philippe (Author), Angeletos, George-Marios (Contributor), Banerjee, Abhijit (Contributor), Manova, Kalina (Author) |
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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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Subjects: | |
Online Access: | Get fulltext |
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