English, Article, Journal or magazine article edition: Quantitative Significance of Collateral Constraints as an Amplification Mechanism INABA Masaru; KOBAYASHI Keiichiro

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Bookmark: http://trove.nla.gov.au/version/211640
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Quantitative Significance of Collateral Constraints as an Amplification Mechanism
Author
  • INABA Masaru
  • KOBAYASHI Keiichiro
Physical Description
  • preprint
Notes
  • Do large fluctuations arise from small shocks through financial frictions? In previous literature it is shown that a collateral constraint on intertemporal debt for consumption smoothing does not have a quantitatively significant effect on the response of output to unexpected shocks. We additionally focus on the collateral constraint on intratemporal debt for wage payments and examine the amplification of output. We find that output is significantly amplified in a standard functional form and parameter region. We also find that the region of the parameters for which the output is amplified is wider than that of previous literature.
  • RePEc:eti:dpaper:09035
Language
  • English
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