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Liquidity constraints and cycles

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Rochon, Céline

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.

Document type Document de travail (Working Paper)
Access type Accès libre
Publication date 1998
Collection CORE Discussion Papers - 1998/07
Affiliation UCL - CORE - Center for Operations Research and Econometrics
Keywords Overlapping Generations Models ; Money ; Liquidity Constraints ; Cycles
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Bibliographic reference Rochon, Céline. Liquidity constraints and cycles. CORE Discussion Papers ; 1998/07 (1998)
Permanent URL http://hdl.handle.net/2078.1/3922