Collateral and Development

41 Pages Posted: 22 Mar 2018

See all articles by Nicola Amendola

Nicola Amendola

University of Rome Tor Vergata - Department of Economics and Finance

Lorenzo Carbonari

Università di Roma "Tor Vergata"

Leo Ferraris

Universidad Carlos III de Madrid

Date Written: December 11, 2017

Abstract

This paper presents a model economy with endogenous credit constraints and endogenous growth, in which agents face a trade-off between investing resources to improve the pledgeability of collateral assets and the accumulation of human capital. The model generates both growth miracles and stagnant economies.

Keywords: Credit, Collateral, Human Capital, Growth

JEL Classification: G0,O1,O40

Suggested Citation

Amendola, Nicola and Carbonari, Lorenzo and Ferraris, Leo, Collateral and Development (December 11, 2017). CEIS Working Paper No. 424. Available at SSRN: https://ssrn.com/abstract=3133051 or http://dx.doi.org/10.2139/ssrn.3133051

Nicola Amendola

University of Rome Tor Vergata - Department of Economics and Finance ( email )

Rome
Italy

Lorenzo Carbonari (Contact Author)

Università di Roma "Tor Vergata" ( email )

Via Columbia 2
Roma, Lazio 00133
Italy

Leo Ferraris

Universidad Carlos III de Madrid ( email )

CL. de Madrid 126
Madrid, Madrid 28903
Spain

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