Program > Papers by author > Carbonari Lorenzo

Collateral and Development
Lorenzo Carbonari  1@  
1 : Università degli Studi di Roma Tor Vergata [Roma]  -  Website
Via Orazio Raimondo,18 - 00173 Roma -  Italy

This paper presents a model economy with endogenous credit constraints and

endogenous growth, in which agents face a trade-o between investing resources

to improve the pledgeability of collateral assets and the accumulation of human

capital. The model generates both growth miracles and stagnant economies.


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