Liquidity constraints and cycles

Rochon, CĂ©line
(1998)

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  • Rochon, CĂ©line
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Abstract
In this paper, we modify the model of Benhabib and Laroque in which the behaviour of non steady-state equilibria in the neighborhood of the golden rule steady state are studied, to include liquidity constraints. We observe, in an example, the appearance of new cycles.
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Rochon, C. (1998). Liquidity constraints and cycles (CORE Discussion Papers 1998/07). https://hdl.handle.net/2078.5/128085