Ítem
Acceso Abierto
Soft budget constraints in a dynamic general equilibrium model
| dc.creator | Gilles Romero, Enrique | |
| dc.date.accessioned | 2015-09-16T14:41:33Z | |
| dc.date.available | 2015-09-16T14:41:33Z | |
| dc.date.created | 2010-03 | |
| dc.date.issued | 2010 | |
| dc.description.abstract | This paper considers an overlapping generations model in which capital investment is financed in a credit market with adverse selection. Lenders’ inability to commit ex-ante not to bailout ex-post, together with a wealthy position of entrepreneurs gives rise to the soft budget constraint syndrome, i.e. the absence of liquidation of poor performing firms on a regular basis. This problem arises endogenously as a result of the interaction between the economic behavior of agents, without relying on political economy explanations. We found the problem more binding along the business cycle, providing an explanation to creditors leniency during booms in some LatinAmerican countries in the late seventies and early nineties. | eng |
| dc.format.extent | 35 páginas | spa |
| dc.format.medium | Recurso electrónico | spa |
| dc.format.mimetype | application/pdf | |
| dc.format.tipo | Documento | spa |
| dc.identifier.citation | Gilles Romero, E. (2010). Soft budget constraints in a dynamic general equilibrium model. Bogotá: Universidad del Rosario, Facultad de Economía. | |
| dc.identifier.doi | https://doi.org/10.48713/10336_10800 | |
| dc.identifier.editorial | Universidad del Rosario, Facultad de Economía | spa |
| dc.identifier.uri | http://repository.urosario.edu.co/handle/10336/10800 | |
| dc.language.iso | spa | |
| dc.publisher | Universidad del Rosario | spa |
| dc.publisher.department | Facultad de Economía | spa |
| dc.relation.citationIssue | No. 81 | |
| dc.relation.citationTitle | Serie Documentos de trabajo. Economía | |
| dc.relation.ispartof | Serie Documentos de trabajo ; No. 81 | spa |
| dc.relation.uri | https://ideas.repec.org/p/col/000092/006885.html | |
| dc.rights.accesRights | info:eu-repo/semantics/openAccess | |
| dc.rights.acceso | Abierto (Texto completo) | spa |
| dc.rights.cc | Atribución-NoComercial-SinDerivadas 2.5 Colombia | spa |
| dc.source.bibliographicCitation | Aghion, Philippe; George-Marios Angeletos; Abhijit Banerjee and Kalina Manova (2005). “Volatility and Growth: Credit Constraints and ProductivityEnhancing Investment”. Mimeo. April | |
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| dc.source.bibliographicCitation | Kornai, Janos; Eric Maskin and G´erard Roland (2003). “Understanding the Soft Budget Constraint”. Journal of Economic Literature, Volume 41, No. 4, December, pp 1095-1136(42). | |
| dc.source.bibliographicCitation | Mitchell, Janet (2000). “Theories of Soft Budget Constraints and the Analysis of Banking Crises”. Economics of Transition, Volume 8 No. 1, March, pp 59-100. | |
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| dc.source.instname | instname:Universidad del Rosario | spa |
| dc.source.instname | instname:Universidad del Rosario | spa |
| dc.source.reponame | reponame:Repositorio Institucional EdocUR | spa |
| dc.subject.ddc | Economía financiera | |
| dc.subject.lemb | Inversiones de capital::Modelos Econométricos | spa |
| dc.subject.lemb | Empresas::Valoración | spa |
| dc.subject.lemb | Administración financiera | spa |
| dc.subject.lemb | Riesgo (Economía) | spa |
| dc.subject.lemb | Ciclo económico | spa |
| dc.title | Soft budget constraints in a dynamic general equilibrium model | spa |
| dc.type | workingPaper | eng |
| dc.type.hasVersion | info:eu-repo/semantics/acceptedVersion | |
| dc.type.spa | Documento de trabajo | spa |
