Agency costs, net worth, and business fluctuations: a computable general equilibrium analysis

Charles Carlstrom () and Timothy S. Fuerst ()

No 9602, Working Paper from Federal Reserve Bank of Cleveland

Abstract: An analysis of the quantitative effects of agency costs in a real business cycle model, showing that these costs can explain why output growth displays positive autocorrelation at short horizons.

Keywords: Business cycles; Investments (search for similar items in EconPapers)
Date: 1996
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Journal Article: Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis (1997)
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