Intangible Capital, Relative Asset Shortages and Bubbles

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 frictions tighten and equilibrium interest rates... READ MORE...

Publication date: November 2011
ISBN 9781463925260
$18.00

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