GROWTH AND INEQUALITY: MODEL EVALUATION BASED ON AN ESTIMATION-CALIBRATION STRATEGY [0.03%]
增长与不平等：基于估计校准策略的模型评估
Hyeok Jeong,Robert Townsend
Hyeok Jeong
This paper evaluates two well-known models of growth with inequality that have explicit micro underpinnings related to household choice. With incomplete markets or transactions costs, wealth can constrain investment in business and the choi...
Measuring the Impact of Financial Intermediation: Linking Contract Theory to Econometric Policy Evaluation [0.03%]
从合同理论到计量政策评估：测算金融中介的影响
Robert M Townsend,Sergio S Urzua
Robert M Townsend
We study the impact that financial intermediation can have on productivity through the alleviation of credit constraints in occupation choice and/or an improved allocation of risk, using both static and dynamic structural models as well as ...
Robert M Townsend
Robert M Townsend