| dc.contributor | 經濟系 | |
| dc.creator (作者) | 蕭明福 | zh_TW |
| dc.creator (作者) | Shaw, Ming‐fu | en_US |
| dc.creator (作者) | Chang, Juin‐jen | en_US |
| dc.creator (作者) | Fan, Chih‐ping | en_US |
| dc.date (日期) | 2018-03 | |
| dc.date.accessioned | 28-Aug-2018 14:29:00 (UTC+8) | - |
| dc.date.available | 28-Aug-2018 14:29:00 (UTC+8) | - |
| dc.date.issued (上傳時間) | 28-Aug-2018 14:29:00 (UTC+8) | - |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/119690 | - |
| dc.description.abstract (摘要) | This paper endogenizes the debt‐equity ratio and embodies financial leverage in a cash‐in‐advance model of endogenous growth. Our analysis finds that the debt‐equity ratio is positively related to the balanced‐growth rate, since it serves as a ‘financial accelerator’ to stimulate investment projects. Compared to previous studies, this positive relationship gives rise to an additional balance‐sheet effect, which substantially affects the macroeconomic consequences of monetary and taxation policies. Due to the existence of the balance‐sheet effect, we also find that the Friedman rule is not necessarily optimal. | en_US |
| dc.format.extent | 250485 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | Bulletin of Economic Research | |
| dc.title (題名) | Endogenous Debt-Equity Ratio and Balance-Sheet Channel: Implications for Growth and Welfare | en_US |
| dc.type (資料類型) | article | |
| dc.identifier.doi (DOI) | 10.1111/boer.12152 | |
| dc.doi.uri (DOI) | https://doi.org/10.1111/boer.12152 | |
