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Short run and long run effects of banking in a New Keynesian model
(2010)
Documento de trabajo / Lan gaiak,
This paper introduces both endogenous capital accumulation and deposit-in-advance requirements for investment in the banking model of Goodfriend and McCallum (2007). Impulse response functions from technology and monetary ...
Firm entry under financial frictions
(2011)
Documento de trabajo / Lan gaiak,
Introducing both endogenous firm entry and a requirement for external finance in a general-equilibrium model leads to three main results. First, the financial constraint has contractionary effects on both equity investment ...
A structural analysis of US entry and exit dynamics. Technical appendix
(2018)
Documento de trabajo / Lan gaiak,
A. The optimizing programs of the model and other technical details (pages 1-7)
B. Short-run and long-run equilibria in the DSGE model with endogenous entry and exit (pages
8-12)
C. Average productivity (pages 13-15)
D. ...
A structural analysis of US entry and exit dynamics
(2018)
Documento de trabajo / Lan gaiak,
The authors report empirical evidence indicating that US business formation has recently turned
more volatile, procyclical and persistent due to changes in exit dynamics. To study these
stylized facts, we estimate a DSGE ...