Randall Wright

Latest

Frictional Capital Reallocation I: Ex Ante Heterogeneity

Staff Working Paper 2019-4 Randall Wright, Sylvia Xiaolin Xiao, Yu Zhu
This paper studies dynamic general equilibrium models where firms trade capital in frictional markets. Gains from trade arise due to ex ante heterogeneity: some firms are better at investment, so they build capital in the primary market; others acquire it in the secondary market.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Monetary Policy JEL Code(s): E, E2, E22, E4, E44

Innovation and Growth with Financial, and Other, Frictions

Staff Working Paper 2011-25 Jonathan Chiu, Césaire Meh, Randall Wright
The generation and implementation of ideas, or knowledge, is crucial for economic performance. We study this process in a model of endogenous growth with frictions.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Potential output, Productivity JEL Code(s): E, E4, G, G2, O, O3, O4

See More

Follow the Bank