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Endogenous fluctuations in a three-period OLG model with credit market imperfection

Author

Listed:
  • Mariko Tanaka

    (Graduate School of Economics, University of Tokyo)

Abstract

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.

Suggested Citation

  • Mariko Tanaka, 2013. "Endogenous fluctuations in a three-period OLG model with credit market imperfection," Economics Bulletin, AccessEcon, vol. 33(1), pages 772-782.
    • Handle: RePEc:ebl:ecbull:eb-12-00505
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    File URL: http://www.accessecon.com/Pubs/EB/2013/Volume33/EB-13-V33-I1-P75.pdf
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    More about this item

    Keywords

    intergenerational transactions; credit market imperfection; endogenous fluctuations;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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