Collateral and Development
Amendola NicolaCarbonari LorenzoFerraris Leo
CEIS Research Paper
This paper presents a model economy with endogenous credit constraints and endogenous growth, in which agents face a trade-off between investing resources to improve the pledgeability of collateral assets and the accumulation of human capital. The model generates both growth miracles and stagnant economies.
Keywords: Credit,Collateral,Human Capital,Growth
JEL codes: G0,O1,O40
Date: Tuesday 20 February 2018
Revision Date: Tuesday 20 February 2018