Coverart for item
The Resource Intangible capital, relative asset shortages and bubbles, Stefano Giglio and Tiago Severo

Intangible capital, relative asset shortages and bubbles, Stefano Giglio and Tiago Severo

Label
Intangible capital, relative asset shortages and bubbles
Title
Intangible capital, relative asset shortages and bubbles
Statement of responsibility
Stefano Giglio and Tiago Severo
Creator
Contributor
Author
Issuing body
Subject
Genre
Language
eng
Summary
We analyze an overlapping generations economy with financial frictions and accumulation of both physical and intangible capital. The key difference between them is that intangible capital cannot be used as collateral for borrowing. As intangibles become more important in production, financial frictions tighten and equilibrium interest rates decline, creating the conditions for the emergence of rational bubbles. We also analyze the question of dynamic efficiency, demonstrating that, in the presence of financial frictions, neither the interest rate test nor the test proposed by Abel et al. (1989) are appropriate. Finally we show that, in general, rational bubbles are not Pareto improving in our framework
Member of
Cataloging source
DJB
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Giglio, Stefano W
Government publication
international or intergovernmental publication
Index
no index present
LC call number
  • HF5681.I55
  • HG3881.5.I58
LC item number
  • G54 2011 ONLINE
  • W67 No. 11/271 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Severo, Tiago
  • International Monetary Fund
Series statement
IMF Working Paper
Series volume
WP/11/271
http://library.link/vocab/subjectName
  • Business cycles
  • Capital
  • Assets (Accounting)
  • Intangible property
  • Assets (Accounting)
  • Business cycles
  • Capital
Label
Intangible capital, relative asset shortages and bubbles, Stefano Giglio and Tiago Severo
Instantiates
Publication
Copyright
Note
  • "November 2011."
  • At head of title: MCM
  • Title from PDF title page (IMF Web site, viewed November 23, 2011)
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Abstract; Contents; I. Introduction; II. Evidence on Intangible Capital and Financing Constraints; A. THE INCREASED IMPORTANCE OF INTANGIBLE CAPITAL; B. INTANGIBLE CAPITAL, COLLATERAL AND FINANCING CONSTRAINTS; III. Model; A. THE OLG STRUCTURE; B. PRODUCTION AND FINANCIAL FRICTIONS; IV. Existence and Characterization of Equilibria; A. THE BUBBLELESS ECONOMY; B. THE BUBBLY ECONOMY; C. STOCHASTIC BUBBLES; V. Intangible Capital, Technological Change, and Bubbles; A. THE IMPORTANCE OF INTANGIBLE CAPITAL AND BUBBLES; B. STOCHASTIC TECHNOLOGICAL PROGRESS AND BUBBLES
  • C. RELATION TO THE SAVINGS GLUT EXPLANATIONVI. Dynamic Efficiency; A. TRADITIONAL TESTS OF DYNAMIC EFFICIENCY; B. NORMATIVE AND POSITIVE IMPLICATIONS IN A BUBBLY ECONOMY; VII. Conclusion; Figures; Tables; References
Control code
763183240
Extent
1 online resource (39 pages)
Form of item
online
Isbn
9781463937010
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781463937010.001
Specific material designation
remote
System control number
(OCoLC)763183240
Label
Intangible capital, relative asset shortages and bubbles, Stefano Giglio and Tiago Severo
Publication
Copyright
Note
  • "November 2011."
  • At head of title: MCM
  • Title from PDF title page (IMF Web site, viewed November 23, 2011)
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Abstract; Contents; I. Introduction; II. Evidence on Intangible Capital and Financing Constraints; A. THE INCREASED IMPORTANCE OF INTANGIBLE CAPITAL; B. INTANGIBLE CAPITAL, COLLATERAL AND FINANCING CONSTRAINTS; III. Model; A. THE OLG STRUCTURE; B. PRODUCTION AND FINANCIAL FRICTIONS; IV. Existence and Characterization of Equilibria; A. THE BUBBLELESS ECONOMY; B. THE BUBBLY ECONOMY; C. STOCHASTIC BUBBLES; V. Intangible Capital, Technological Change, and Bubbles; A. THE IMPORTANCE OF INTANGIBLE CAPITAL AND BUBBLES; B. STOCHASTIC TECHNOLOGICAL PROGRESS AND BUBBLES
  • C. RELATION TO THE SAVINGS GLUT EXPLANATIONVI. Dynamic Efficiency; A. TRADITIONAL TESTS OF DYNAMIC EFFICIENCY; B. NORMATIVE AND POSITIVE IMPLICATIONS IN A BUBBLY ECONOMY; VII. Conclusion; Figures; Tables; References
Control code
763183240
Extent
1 online resource (39 pages)
Form of item
online
Isbn
9781463937010
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781463937010.001
Specific material designation
remote
System control number
(OCoLC)763183240

Library Locations

    • Pardee Legal Research CenterBorrow it
      5998 Alcalá Park, San Diego, CA, 92110-2492, US
      32.771471 -117.187496
Processing Feedback ...