Credit Market Imperfection and Sectoral Asymmetry of Chinese Business Cycle

Credit Market Imperfection and Sectoral Asymmetry of Chinese Business Cycle
This paper analyzes the role of credit market imperfection and sectoral asymmetry as a means through which shocks to the real economy are propagated and amplified. Drawing on firm-level data to calibrate the model, our simulations capture two key stylized facts of the Chinese economy: that credit constraints are more binding in nontradable... READ MORE...

Publication date: May 2011
ISBN 9781455262410
$18.00

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