Intangible Capital, Relative Asset Shortages and Bubbles /
We analyze an overlapping generations economy with financial frictions and accumulation of both physical and intangible capital. The key difference between them is that intangible capital cannot be used as collateral for borrowing. As intangibles become more important in production, financial fricti...
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| 格式: | 雜誌 |
| 語言: | English |
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Washington, D.C. :
International Monetary Fund,
2011.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2011/271 |
| 在線閱讀: | Full text available on IMF |