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Financial Development and the Effects of Volatility on Growth

Phillippe Aghion and Abhijit Banerjee

in Volatility and Growth

Published in print:
2005
Published Online:
January 2007
ISBN:
9780199248612
eISBN:
9780191714719
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199248612.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter argues, based on Aghino-Angeletos-Banerjee-Manova (AABM), that the presence of credit constraints can help us understand why volatility is so costly for growth. The basic idea behind ... More


Endogeneizing Volatility: Pecuniary Externalities and the Credit Channel

Phillippe Aghion and Abhijit Banerjee

in Volatility and Growth

Published in print:
2005
Published Online:
January 2007
ISBN:
9780199248612
eISBN:
9780191714719
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199248612.003.0005
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter shows how volatility can emerge endogenously, in a world where credit constraints sometimes bind. An elementary theoretical framework is developed, which generates endogenous and ... More


Volatility and Growth

Philippe Aghion and Abhijit Banerjee

Published in print:
2005
Published Online:
January 2007
ISBN:
9780199248612
eISBN:
9780191714719
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199248612.001.0001
Subject:
Economics and Finance, Development, Growth, and Environmental

It has long been recognized that productivity growth and the business cycle are closely interrelated. Yet, until recently, the two phenomena have been investigated separately in the economics ... More


The Third Generation Approach to Currency Crises

Phillippe Aghion and Abhijit Banerjee

in Volatility and Growth

Published in print:
2005
Published Online:
January 2007
ISBN:
9780199248612
eISBN:
9780191714719
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199248612.003.0007
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter presents a highly stylized model, based on limited access to credit that can explain why an economy that is carrying a large amount of foreign currency debt might be vulnerable to ... More


Epilogue

Giovanni Piersanti

in The Macroeconomic Theory of Exchange Rate Crises

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199653126
eISBN:
9780191741210
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199653126.003.0006
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter concludes the book and discusses some hotly debated issues in crises prevention, with special emphasis on the role of assets prices movements and the optimal choice of an exchange rate ... More


Small Businesses and Small Business Finance during the Financial Crisis and the Great Recession: New Evidence from the Survey of Consumer Finances

Arthur B. Kennickell, Myron L. Kwast, and Jonathan Pogach

in Measuring Entrepreneurial Businesses: Current Knowledge and Challenges

Published in print:
2017
Published Online:
May 2018
ISBN:
9780226454078
eISBN:
9780226454108
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226454108.003.0008
Subject:
Economics and Finance, Econometrics

We use the Federal Reserve’s 2007, 2009 re-interview of 2007 respondents, and 2010 Surveys of Consumer Finances (SCFs) to study how small businesses owned and actively managed by households fared ... More


Entrepreneurship and Credit Constraints: Evidence from a French Loan Guarantee Program

Claire Lelarge, David Sraer, and David Thesmar (eds)

in International Differences in Entrepreneurship

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226473093
eISBN:
9780226473109
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226473109.003.0009
Subject:
Economics and Finance, International

This chapter evaluates the introduction and expansion of a loan guarantee program in France in the mid-1990s. This indirect subsidy program provides (partial) insurance to banks against default risk ... More


Milton Friedman and the Finance of Higher Education

Nicholas Barr

in Milton Friedman: Contributions to Economics and Public Policy

Published in print:
2016
Published Online:
August 2016
ISBN:
9780198704324
eISBN:
9780191773761
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198704324.003.0024
Subject:
Economics and Finance, Economic History, Macro- and Monetary Economics

In 1945, Friedman and Kuznets posed the puzzle that the return to investment in human capital was higher than to physical capital. They hypothesized a distortion causing underinvestment in human ... More


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