| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965862 | Journal of Macroeconomics | 2013 | 14 Pages |
Abstract
⺠We introduce a neoclassical model with financial intermediation. ⺠The model explains the falling Euler equation wedges of S. Korea and Taiwan. ⺠This model shows that financial efficiency enhances growth and improves welfare. ⺠High output is due not to high saving rates but to efficient resource reallocation.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Shu-Shiuan Lu,