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.
 

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Number: 424
Keywords: Credit,Collateral,Human Capital,Growth
JEL codes: G0,O1,O40
Volume: 16
Issue: 1
Date: Tuesday 20 February 2018
Revision Date: Tuesday 20 February 2018