Marc-André Letendre

External Author

Show all

Staff Working Papers

Agency Costs, Risk Shocks and International Cycles

Staff Working Paper 2016-2 Marc-André Letendre, Joel Wagner
We add agency costs as in Carlstrom and Fuerst (1997) into a two-country, two-good international business-cycle model. In our model, changes in the relative price of investment arise endogenously.

Follow the Bank