Borrowing constraints and complex dynamics in an OLG framework

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Standard

Borrowing constraints and complex dynamics in an OLG framework. / Assenza, Tiziana; Agliari, Anna; Delli Gatti, Domenico; Santoro, Emiliano.

I: Journal of Economic Behavior & Organization, Bind 72, Nr. 2, 2009, s. 656-669.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Assenza, T, Agliari, A, Delli Gatti, D & Santoro, E 2009, 'Borrowing constraints and complex dynamics in an OLG framework', Journal of Economic Behavior & Organization, bind 72, nr. 2, s. 656-669. https://doi.org/10.1016/j.jebo.2009.07.011

APA

Assenza, T., Agliari, A., Delli Gatti, D., & Santoro, E. (2009). Borrowing constraints and complex dynamics in an OLG framework. Journal of Economic Behavior & Organization, 72(2), 656-669. https://doi.org/10.1016/j.jebo.2009.07.011

Vancouver

Assenza T, Agliari A, Delli Gatti D, Santoro E. Borrowing constraints and complex dynamics in an OLG framework. Journal of Economic Behavior & Organization. 2009;72(2):656-669. https://doi.org/10.1016/j.jebo.2009.07.011

Author

Assenza, Tiziana ; Agliari, Anna ; Delli Gatti, Domenico ; Santoro, Emiliano. / Borrowing constraints and complex dynamics in an OLG framework. I: Journal of Economic Behavior & Organization. 2009 ; Bind 72, Nr. 2. s. 656-669.

Bibtex

@article{d6f645a0d82f11dea1f3000ea68e967b,
title = "Borrowing constraints and complex dynamics in an OLG framework",
abstract = "In this paper we model an OLG economy {\`a} 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 configuration 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.",
keywords = "Faculty of Social Sciences, credit cycles, monetary policy",
author = "Tiziana Assenza and Anna Agliari and {Delli Gatti}, Domenico and Emiliano Santoro",
note = "JEL classification: E32, E52",
year = "2009",
doi = "10.1016/j.jebo.2009.07.011",
language = "English",
volume = "72",
pages = "656--669",
journal = "Journal of Economic Behavior & Organization",
issn = "0167-2681",
publisher = "Elsevier",
number = "2",

}

RIS

TY - JOUR

T1 - Borrowing constraints and complex dynamics in an OLG framework

AU - Assenza, Tiziana

AU - Agliari, Anna

AU - Delli Gatti, Domenico

AU - Santoro, Emiliano

N1 - JEL classification: E32, E52

PY - 2009

Y1 - 2009

N2 - 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 configuration 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.

AB - 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 configuration 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.

KW - Faculty of Social Sciences

KW - credit cycles

KW - monetary policy

U2 - 10.1016/j.jebo.2009.07.011

DO - 10.1016/j.jebo.2009.07.011

M3 - Journal article

VL - 72

SP - 656

EP - 669

JO - Journal of Economic Behavior & Organization

JF - Journal of Economic Behavior & Organization

SN - 0167-2681

IS - 2

ER -

ID: 15999517