search query: @journal_id 1391 / total: 208
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| Author: | Jones, J.B. |
| Title: | The dynamic effects of firm-level borrowing constraints |
| Journal: | Journal of Money, Credit and Banking
2003 : OCT, VOL. 35:5, p. 743-762 |
| Index terms: | Borrowing Economic shocks Monetary economics |
| Language: | eng |
| Abstract: | This article develops a dynamic model of company behavior in order to see whether financial constraints and endogenous exit are important propagation mechanisms. The writer finds that financial constraints tend to dampen the economys initial response to aggregate productivity shocks but equity accumulation and exit dynamics amplify the long-term response. |
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