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|z 9781451846119
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|a 1018-5941
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|a Xie, Danyang.
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|a A Dynamic General Equilibrium Framework of Investment with Financing Constraint /
|c Danyang Xie, Chi-Wa Yuen.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2002.
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|a 1 online resource (22 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a In this paper, we provide a dynamic general equilibrium framework with an explicit investment-financing constraint. The constraint is intended as a reduced form to capture the balance sheet effects, which have been widely regarded as an important determinant of financial crises. We derive a link between the value of the firm and the social welfare and we find that the value of the firm can be greater with than without the constraint. Our model also sheds light on how the effects of productivity shocks and bubbles may be amplified by the financing constraint.
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|a Mode of access: Internet
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|a Yuen, Chi-Wa.
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|a IMF Working Papers; Working Paper ;
|v No. 2002/041
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2002/041/001.2002.issue-041-en.xml
|z IMF e-Library
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