Thumbnail Image
Item

Investment composition and productivity with heterogeneous entrepreneurs

Uras,R.B.
Abstract
This paper develops an overlapping generations model of entrepreneurship to analyze the effects of financier patience on aggregate productivity of capital and macroeconomic development. The purpose of the enquiry is to show that while limited financier patience constrains the supply of investable funds allocated at productive long-term entrepreneurial projects and aggregate productivity, financial markets that favor short-term lending do not necessarily retard steady state output. I show that this potential non-linear effect of financier patience exists if entrepreneurial sector of the society consists of economic agents with heterogeneous interests in adopting long-term investment projects.
Description
Date
2013
Journal Title
Journal ISSN
Volume Title
Publisher
Collections
Tilburg University Research Output Collection
Show all metadata
Files
Thumbnail Image
1_s2.0_S0164070412001048_main.pdf
Adobe PDF, 235.11 KB
Research Projects
Organizational Units
Journal Issue
Keywords
Citation
Uras, R B 2013, 'Investment composition and productivity with heterogeneous entrepreneurs', Journal of Macroeconomics, vol. 35, no. March 2013, pp. 104-116. https://doi.org/10.1016/j.jmacro.2012.09.004
URI
https://hdl.handle.net/20.500.14602/58449
License
info:eu-repo/semantics/openAccess
cb
Embedded videos