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| Mariko Tanaka |
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| ''Endogenous fluctuations in a three-period OLG model with credit market imperfection'' |
| ( 2013, Vol. 33 No.1 ) |
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| This paper studies the effects of credit market imperfection on economic growth by focusing on intergenerational transactions in an overlapping generations model. We show that credit cycles of the wage growth factor emerge in moderately developed economies. We also show that there is a nonlinear relation between economic stability and a degree of credit market imperfection. |
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| Keywords: intergenerational transactions, credit market imperfection, endogenous fluctuations |
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) |
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| Manuscript Received : Jul 03 2012 | | Manuscript Accepted : Mar 18 2013 |
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