| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5055200 | Economic Modelling | 2011 | 10 Pages |
Abstract
⺠We presents an open-economy macrodynamical growth model to study the financial fragility. ⺠We deal with an endogenous process of debt accumulation under a currency-board arrangement. ⺠A nonlinear real-financial interaction determines the overborrowing process. ⺠We estimate in continuous time such a nonlinear model. ⺠We study the stability properties of the multiple equilibria.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Eleonora Cavallaro, Bernardo Maggi, Marcella Mulino,