Torben Klarl, Alfred Maussner
Firm Heterogeneity, Credit Constraints, and
Endogenous Growth
Abstract:
This paper is concerned with the role of firm heterogeneity under
credit constraints for economic growth. We focus on firm size,
innovativeness and credit constraints in a semi-endogenous growth model
reflecting recent empirical findings on firm heterogeneity. It allows
for an explicit solution for transitional growth and balanced growth
path productivity as well as the growth maximizing firm heterogeneity.
This enables us to draw inference about the impact of key policy
parameters of the model on these quantities and to draw conclusions
about firm and capital market related policies.
JEL: E5, O31
Paper:
Paper available as pdf-file.
Beitrag Nr. 311, Volkswirtschaftliche Diskussionsreihe, Institut
für
Volkswirtschaftslehre der Universität Augsburg
Contact:
Torben
Klarl, University of Augsburg, Department of Economics,
D-86135
Augsburg,
Germany, phone +49-821-598-4189, fax +49-821-598-4231
email: torben.alexander.klarl@wiwi.uni-augsburg.de
Alfred
Maussner, University of Augsburg, Department of Economics,
D-86135
Augsburg,
Germany, phone +49-821-598-4187, fax +49-821-598-4231
email: alfred.maussner@wiwi.uni-augsburg.de
Bo., 20.05.2010