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Bank of Canada RSS Feedsen2024-03-28T21:05:02+00:00Firms Dynamics, Bankruptcy Laws and Total Factor Productivity
https://www.bankofcanada.ca/2007/03/working-paper-2007-17/
This paper analyzes endogenous fluctuations in total factor productivity (TFP) in a dynamic general equilibrium model with heterogeneous agents, and illustrates the interaction of credit market frictions, asset prices, the entry and exit of firms, and fluctuations in TFP in response to firm-level productivity and aggregate credit-market shocks. I also analyze the effect of bankruptcy and foreclosure laws on fluctuations in TFP through their effect on credit market frictions.2007-03-04T16:48:20+00:00enFirms Dynamics, Bankruptcy Laws and Total Factor Productivity2007-03-04Financial stabilityProductivityWorking Paper 2007-17 https://www.bankofcanada.ca/wp-content/uploads/2010/03/wp07-17.pdfFirms Dynamics, Bankruptcy Laws and Total Factor ProductivityHajime TomuraMarch 2007DD2D24EE4E44GG3G33