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