أعرض تسجيلة المادة بشكل مبسط
| dc.creator |
Caballé, Jordi |
|
| dc.creator |
Jarque, Xavier |
|
| dc.creator |
Michetti, Elisabetta |
|
| dc.date |
2007-11-05T11:32:03Z |
|
| dc.date |
2007-11-05T11:32:03Z |
|
| dc.date |
2004-03-16 |
|
| dc.date.accessioned |
2017-01-31T00:57:56Z |
|
| dc.date.available |
2017-01-31T00:57:56Z |
|
| dc.identifier |
http://hdl.handle.net/10261/1806 |
|
| dc.identifier.uri |
http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1806 |
|
| dc.description |
This paper analyzes the role of financial development as a source of endogenous instability in small open economies. By assuming that firms face credit constraints, our model displays a complex dynamic behavior for intermediate values of the parameter representing the level of financial development of the economy. The basic implication of our model is that economies experiencing a process of financial development are more unstable than both very underdeveloped and very developed economies. Our instability concept means that small shocks have a persistent effect on the long run behavior of the model and also that economies can exhibit cycles with a very high period or even chaotic dynamic patterns. |
|
| dc.language |
eng |
|
| dc.relation |
UFAE and IAE Working Papers |
|
| dc.relation |
605.04 |
|
| dc.rights |
openAccess |
|
| dc.subject |
Chaotic Dynamics |
|
| dc.subject |
Credit Constraints |
|
| dc.subject |
Financial development |
|
| dc.title |
Chaotic Dynamics in Credit Constrained Emerging Economies |
|
| dc.type |
Documento de trabajo |
|
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أعرض تسجيلة المادة بشكل مبسط