研讨論文
Credit Constraints and Self-Fulfilling Business Cycles (AEJ:Macro. Liu and Wang.2014)
主講人
孫敏娴（中經管2021級博士生）
上期回顧
We reviewed the mathematical properties regarding the Pareto distribution, which governs the idiosyncratic productivity shocks faced by firms. We then proved Proposition 3.2, linearized the model’s dynamical system and its corresponding matrix expression. We also verified the necessary and sufficient conditions for the indeterminacy in equilibrium.
本期預告
We will review the Blanchard-Kahn (B-K) conditions indicating whether the model’s dynamical system has a unique solution, and we will solve for the parameter conditions required for indeterminant equilibria. Then we will go through the calibration and simulation results. Finally, we will introduce an extended model with capacity utilization, examining how the conclusions of the baseline model would change when households lend a portion of their capital stock to firms.
點評老師
王忏 明洋
時間
11月2日18:30-21:30
地點
學術會堂712
活動對象
韦德体育bevictor、金融學院學生
人數規模
30人
主辦單位
韦德体育bevictor中國經濟與管理研究院
金融學院聯合主辦
文字：孫敏娴
審稿：汪雄劍、明洋
排版：任璐
編輯：沈嘉怡
審核：王穎
