The common thread in this thesis is represented by general equilibrium models with heterogeneous firms. Initiated by Huggett (1993) and Aiyagari (1994), a strand of general equilibrium literature characterized by the distribution of heterogeneous individuals has been developed. In recent years, the introduction of heterogeneity in macroeconomics increased exponentially. The thesis is developed in this context. The first chapter provides a methodological analysis. It examines the importance of the modelization choice of the idiosyncratic productivity process of individuals. The second chapter proposes a theoretical model which can be able to reconcile four important facts shared by most of the advanced economies around the world: declining labor share of income, rising capital misallocation, low total factor productivity growth and the declining relative price of investment goods.
HETEROGENEOUS FIRMS MODELS AND FINANCIAL MARKET FRICTIONS / F. Crucitti ; supervisor: L. Rossi. - Milano : Università degli studi di Milano. Universita' degli Studi di MILANO, 2019 Jan 24. ((31. ciclo, Anno Accademico 2018.
Titolo: | HETEROGENEOUS FIRMS MODELS AND FINANCIAL MARKET FRICTIONS |
Autori: | |
Tutor esterno: | ROSSI, LORENZA |
Data di pubblicazione: | 24-gen-2019 |
Parole Chiave: | heterogeneous agents; credit crunch; productivity process; declining labor share; misallocation |
Settore Scientifico Disciplinare: | Settore SECS-P/01 - Economia Politica |
Tipologia: | Doctoral Thesis |
Citazione: | HETEROGENEOUS FIRMS MODELS AND FINANCIAL MARKET FRICTIONS / F. Crucitti ; supervisor: L. Rossi. - Milano : Università degli studi di Milano. Universita' degli Studi di MILANO, 2019 Jan 24. ((31. ciclo, Anno Accademico 2018. |
Digital Object Identifier (DOI): | http://dx.doi.org/10.13130/crucitti-francesca_phd2019-01-24 |
Appare nelle tipologie: | Tesi di dottorato |
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