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

Mariko Tanaka ()
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Mariko Tanaka: Graduate School of Economics, University of Tokyo

Economics Bulletin, 2013, vol. 33, issue 1, 772-782

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.

Keywords: intergenerational transactions; credit market imperfection; endogenous fluctuations (search for similar items in EconPapers)
JEL-codes: E2 E3 (search for similar items in EconPapers)
Date: 2013-03-18
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-12-00505

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