Quotation Punzi, Maria Teresa, Rabitsch, Katrin. 2015. Investor borrowing heterogeneity in a Kiyotaki-Moore style macro model. Economics Letters 130, 75-79.


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Abstract

We introduce heterogeneity in investors’ ability to borrow from collateral in a Kiyotaki–Moore style macro model, calibrated to the quintiles of the leverage-ratio distribution of US non-financial firms. Financial amplification intensifies, because of stronger asset price reactions of highly levered investors.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Economics Letters
Citation Index SSCI
WU Journalrating 2009 A
WU-Journal-Rating new FIN-A, STRAT-B, VW-B, WH-B
Language English
Title Investor borrowing heterogeneity in a Kiyotaki-Moore style macro model
Volume 130
Year 2015
Page from 75
Page to 79
Reviewed? Y
URL http://dx.doi.org/10.1016/j.econlet.2015.03.007
DOI http://dx.doi.org/10.1016/j.econlet.2015.03.007

Associations

Projects
FinMaP: Financial Distortions and Macroeconomic Performance
People
Punzi, Maria Teresa (Former researcher)
Rabitsch-Schilcher, Katrin (Details)
Organization
Department of Economics DP (Details)
Department of Economics (Kubin) (Details)
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