Asset pooling, credit rationing, and growth
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Christopher Phelan & Robert M. Townsend, 1991.
"Computing Multi-Period, Information-Constrained Optima,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(5), pages 853-881.
- Phelan, C. & Townsend, R.M., 1990. "Computing Multiperiod, Information-Constrained Optima," University of Chicago - Economics Research Center 90-13, Chicago - Economics Research Center.
- Christopher Phelan & Robert M Townsend, 2010. "Computing Multi-Period, Information Constrained Optima," Levine's Working Paper Archive 117, David K. Levine.
- Besley, Timothy & Coate, Stephen & Loury, Glenn, 1993.
"The Economics of Rotating Savings and Credit Associations,"
American Economic Review, American Economic Association, vol. 83(4), pages 792-810, September.
- Besley, T. & Coate, S. & Loury, G., 1990. "The Economics Of Rotating Savings And Credit Associations," Working papers 556, Massachusetts Institute of Technology (MIT), Department of Economics.
- Timothy Besley & Stephen Coate & Glenn Loury, 1992. "The Economics of Rotating Savings and Credit Associations," Boston University - Institute for Economic Development 24, Boston University, Institute for Economic Development.
- Besley, T. & Coate, S. & Loury, G., 1990. "The Economics Of Rotating Savings And Credit Associations," Papers 149, Princeton, Woodrow Wilson School - Development Studies.
- Besley, T. & Coate, S. & Loury, G., 1992. "The economics of Rotating Savings and Credit Associations," Papers 157, Princeton, Woodrow Wilson School - Development Studies.
- Prescott, Edward C & Townsend, Robert M, 1984.
"General Competitive Analysis in an Economy with Private Information,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(1), pages 1-20, February.
- Edward C Prescott & Robert M Townsend, 1997. "General Competitive Analysis in an Economy with Private Information," Levine's Working Paper Archive 1578, David K. Levine.
- Banerjee, Abhijit V & Newman, Andrew F, 1993.
"Occupational Choice and the Process of Development,"
Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-298, April.
- Abhijit V. Banerjee & Andrew F. Newman, 1990. "Occupational Choice and the Process of Development," Discussion Papers 911, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Philippe Aghion & Patrick Bolton, 1997. "A Theory of Trickle-Down Growth and Development," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 64(2), pages 151-172.
- Prescott, Edward C & Townsend, Robert M, 1984.
"Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard,"
Econometrica, Econometric Society, vol. 52(1), pages 21-45, January.
- Edward C Prescott & Robert M Townsend, 2010. "Pareto Optima and Competitive Equilibria With Adverse Selection and Moral Hazard," Levine's Working Paper Archive 2069, David K. Levine.
- Ghatak, Maitreesh & Guinnane, Timothy W., 1999.
"The economics of lending with joint liability: theory and practice,"
Journal of Development Economics, Elsevier, vol. 60(1), pages 195-228, October.
- Ghatak, M. & Guinnane, T.W., 1998. "The Economics of Lending with Joint Liability: Theory and Practice," Papers 791, Yale - Economic Growth Center.
- Maitreesh Ghatak & Timothy W. Guinnane, 1998. "The Economics of Lending with Joint Liability: Theory and Practice," Discussion Papers 98-16, University of Copenhagen. Department of Economics.
- Maitreesh Ghatak & Timothy W. Guinnane, 1998. "The Economics of Lending with Joint Liability: Theory and Practice," Working Papers 791, Economic Growth Center, Yale University.
- Sappington, David, 1983. "Limited liability contracts between principal and agent," Journal of Economic Theory, Elsevier, vol. 29(1), pages 1-21, February.
- Thomas Piketty, 1997. "The Dynamics of the Wealth Distribution and the Interest Rate with Credit Rationing," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 64(2), pages 173-189.
- Edward Simpson Prescott, 1998. "Computing moral-hazard problems using the Dantzig-Wolfe decomposition algorithm," Working Paper 98-06, Federal Reserve Bank of Richmond.
- Timothy Besley & Stephen Coate & Glenn Loury, 1994. "Rotating Savings and Credit Associations, Credit Markets and Efficiency," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 61(4), pages 701-719.
- Lehnert, Andreas & Ligon, Ethan & Townsend, Robert M., 1999. "Liquidity Constraints And Incentive Contracts," Macroeconomic Dynamics, Cambridge University Press, vol. 3(1), pages 1-47, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Anna L. Paulson & Robert M. Townsend, 2003. "Distinguishing limited commitment from moral hazard in models of growth with inequality," Working Paper Series WP-03-06, Federal Reserve Bank of Chicago.
- Alexander Karaivanov, 2003. "Financial Contracts and Occupational Choice," Computing in Economics and Finance 2003 25, Society for Computational Economics.
- Bill Dupor & Andreas Lehnert, 2002. "Increasing returns and optimal oscillating labor supply," Finance and Economics Discussion Series 2002-22, Board of Governors of the Federal Reserve System (U.S.).
- Ghatak, Maitreesh & Nien-Huei Jiang, Neville, 2002.
"A simple model of inequality, occupational choice, and development,"
Journal of Development Economics, Elsevier, vol. 69(1), pages 205-226, October.
- Maitreesh Ghatak & Nien-Huei Jiang, 2000. "A Simple Model of Inequality, Occupational Choice, and Development," Vanderbilt University Department of Economics Working Papers 0007, Vanderbilt University Department of Economics.
- João Pedro W. de Azevedo, 2004. "Entrepreneurship And Liquidity Constraints In Deprived Areas: Evidence From The Slums Of Rio De Janeiro," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32nd Brazilian Economics Meeting] 135, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
- repec:ebl:ecbull:v:4:y:2005:i:11:p:1-6 is not listed on IDEAS
- Alexander Karaivanov, 2002. "Computing Moral Hazard Programs With Lotteries Using Matlab," Computational Economics 0201001, University Library of Munich, Germany.
- Gwenael Piaser, 2005. "Stochastic and deterministic menus in common agency games," Economics Bulletin, AccessEcon, vol. 4(11), pages 1-6.
- Gine, Xavier & Townsend, Robert M., 2004.
"Evaluation of financial liberalization: a general equilibrium model with constrained occupation choice,"
Journal of Development Economics, Elsevier, vol. 74(2), pages 269-307, August.
- Gine, Xavier & Townsend, Robert M., 2003. "Evaluation of financial liberalization : a general equilibrium model with constrained occupation choice," Policy Research Working Paper Series 3014, The World Bank.
- Philip Bond & Paul Huck & Sherrie L. W. Rhine & Robert M. Townsend, 1999. "Small business finance in two Chicago minority neighborhoods," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 23(Q II), pages 46-62.
- Prescott, Edward Simpson, 2004. "Computing solutions to moral-hazard programs using the Dantzig-Wolfe decomposition algorithm," Journal of Economic Dynamics and Control, Elsevier, vol. 28(4), pages 777-800, January.
- Michael A. Sadler, 2000. "Escaping Poverty: Risk-Taking and Endogenous Inequality in a Model of Equilibrium Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(4), pages 704-725, October.
- Edward Simpson Prescott, 1999. "A primer on moral-hazard models," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 47-78.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Alexander Karaivanov, 2003. "Financial Contracts and Occupational Choice," Computing in Economics and Finance 2003 25, Society for Computational Economics.
- Karaivanov, Alexander, 2012. "Financial constraints and occupational choice in Thai villages," Journal of Development Economics, Elsevier, vol. 97(2), pages 201-220.
- Michael A. Sadler, 2000. "Escaping Poverty: Risk-Taking and Endogenous Inequality in a Model of Equilibrium Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(4), pages 704-725, October.
- Huw Lloyd-Ellis & Dan Bernhardt, 2000.
"Enterprise, Inequality and Economic Development,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 67(1), pages 147-168.
- Bernhardt, Dan & Lloyd-Ellis, Huw, 1993. "Enterprise, Inequality and Economic Development," Queen's Institute for Economic Research Discussion Papers 275227, Queen's University - Department of Economics.
- Dan Bernhardt & Huw Lloyd-Ellis, 1993. "Enterprise, Inequality and Economic Development," Working Paper 893, Economics Department, Queen's University.
- Tressel, Thierry, 2003. "Dual Financial Systems and Inequalities in Economic Development," Journal of Economic Growth, Springer, vol. 8(2), pages 223-257, June.
- Ghatak, Maitreesh & Nien-Huei Jiang, Neville, 2002.
"A simple model of inequality, occupational choice, and development,"
Journal of Development Economics, Elsevier, vol. 69(1), pages 205-226, October.
- Maitreesh Ghatak & Nien-Huei Jiang, 2000. "A Simple Model of Inequality, Occupational Choice, and Development," Vanderbilt University Department of Economics Working Papers 0007, Vanderbilt University Department of Economics.
- Alexander Karaivanov, 2002. "Computing Moral Hazard Programs With Lotteries Using Matlab," Computational Economics 0201001, University Library of Munich, Germany.
- Ben Mimoun, Mohamed & Boukhatem, Jamel & Raies, Asma, 2024. "Aggregate demand and inflation response to monetary policy shocks in Tunisia," Journal of Policy Modeling, Elsevier, vol. 46(3), pages 592-612.
- Bourguignon, Francois, 2005. "The Effect of Economic Growth on Social Structures," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 27, pages 1701-1747, Elsevier.
- Cyril Monnet & Erwan Quintin & Thorsten V. Koeppl, 2007.
"The Poor, The Rich And The Enforcer: Institutional Choice And Growth,"
Working Paper
1150, Economics Department, Queen's University.
- Erwan Quintin & Cyril Monnet & Thorsten Koeppl, 2008. "The Poor, the Rich and the Enforcer: Institutional Choice and Growth," 2008 Meeting Papers 281, Society for Economic Dynamics.
- Thorsten Koeppl & Cyril Monnet & Erwan Quintin, 2008. "The poor, the rich and the enforcer: institutional choice and growth," Working Papers 0801, Federal Reserve Bank of Dallas.
- Masako Ikefuji & Ryo Horii, 2007.
"Wealth Heterogeneity and Escape from the Poverty–Environment Trap,"
Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(6), pages 1041-1068, December.
- Masako Ikefuji & Ryo Horii, 2005. "Wealth Heterogeneity and Escape from the Poverty-Environment Trap," Development and Comp Systems 0505001, University Library of Munich, Germany.
- Masako Ikefuji & Ryo Horii, 2005. "Wealth Heterogeneity and Escape from the Poverty-Environment Trap," Discussion Papers in Economics and Business 05-09, Osaka University, Graduate School of Economics.
- Alessandra Bonfiglioli, 2004.
"Equities and Inequality,"
2004 Meeting Papers
256, Society for Economic Dynamics.
- Alessandra Bonfiglioli, 2005. "Equities and inequality," Economics Working Papers 947, Department of Economics and Business, Universitat Pompeu Fabra.
- Bonfiglioli, Alessandra, 2005. "Equities and Inequality," Seminar Papers 737, Stockholm University, Institute for International Economic Studies.
- Carter, Michael R. & Zimmerman, Frederick J., 2000.
"The dynamic cost and persistence of asset inequality in an agrarian economy,"
Journal of Development Economics, Elsevier, vol. 63(2), pages 265-302, December.
- MICHAEL R. CARTER & Frederic Zimmerman, 1998. "The Dynamic Cost and Persistence of Asset Inequality in an Agrarian Economy," Wisconsin-Madison Agricultural and Applied Economics Staff Papers 416, Wisconsin-Madison Agricultural and Applied Economics Department.
- Proto, Eugenio, 2007. "Land and the transition from a dual to a modern economy," Journal of Development Economics, Elsevier, vol. 83(1), pages 88-108, May.
- Amparo Castelló-Climent, 2004. "A Reassessment Of The Relationship Between Inequality And Growth: What Human Capital Inequality Data Say?," Working Papers. Serie EC 2004-15, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Oded, Galor, 2011.
"Inequality, Human Capital Formation, and the Process of Development,"
Handbook of the Economics of Education, in: Erik Hanushek & Stephen Machin & Ludger Woessmann (ed.), Handbook of the Economics of Education, edition 1, volume 4, chapter 0, pages 441-493,
Elsevier.
- Oded Galor, 2011. "Inequality, Human Capital Formation and the Process of Development," Working Papers 2011-7, Brown University, Department of Economics.
- Galor, Oded, 2012. "Inequality, Human Capital Formation and the Process of Development," IZA Discussion Papers 6328, Institute of Labor Economics (IZA).
- Oded Galor, 2011. "Inequality, Human Capital Formation and the Process of Development," NBER Working Papers 17058, National Bureau of Economic Research, Inc.
- Paul J. Gertler & Orie Shelef & Catherine D. Wolfram & Alan Fuchs, 2016. "The Demand for Energy-Using Assets among the World's Rising Middle Classes," American Economic Review, American Economic Association, vol. 106(6), pages 1366-1401, June.
- Roland Benabou, 2002.
"Tax and Education Policy in a Heterogeneous-Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency?,"
Econometrica, Econometric Society, vol. 70(2), pages 481-517, March.
- Roland Benabou, 1999. "Tax and Education Policy in a Heterogeneous Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency?," NBER Working Papers 7132, National Bureau of Economic Research, Inc.
- Bénabou, Roland, 2000. "Tax And Education Policy In A Heterogeneous Agent Economy: What Levels Of Redistribution Maximize Growth And Efficiency?," CEPR Discussion Papers 2446, C.E.P.R. Discussion Papers.
- Bonfiglioli, Alessandra, 2012.
"Investor protection and income inequality: Risk sharing vs risk taking,"
Journal of Development Economics, Elsevier, vol. 99(1), pages 92-104.
- Bonfiglioli, Alessandra, 2010. "Investor Protection and Income Inequality: Risk Sharing vs Risk Taking," CEPR Discussion Papers 7853, C.E.P.R. Discussion Papers.
- Alessandra Bonfiglioli, 2015. "Investor Protection and Income Inequality: Risk Sharing vs Risk Taking," Working Papers 461, Barcelona School of Economics.
- Alessandra Bonfiglioli, 2010. "Investor Protection and Income Inequality: Risk Sharing vs Risk Taking," UFAE and IAE Working Papers 827.10, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Kiminori Matsuyama, 2001.
"On the Rise and Fall of Class Societies,"
Discussion Papers
1326, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Kiminori Matsuyama, 2002. "On the Rise and Fall of Class Societies," CIRJE F-Series CIRJE-F-173, CIRJE, Faculty of Economics, University of Tokyo.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedgfe:1998-52. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ryan Wolfslayer ; Keisha Fournillier (email available below). General contact details of provider: https://edirc.repec.org/data/frbgvus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.