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LIQUIDITY CONSTRAINTS IN A MONETARY ECONOMY

✍ Scribed by Leo Ferraris; Makoto Watanabe

Book ID
111081088
Publisher
John Wiley and Sons
Year
2012
Tongue
English
Weight
828 KB
Volume
53
Category
Article
ISSN
0020-6598

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## Abstract We present a dynamic framework for the interaction between borrowing (liquidity) constraints and deviations of actual hours from desired hours, both measured by discrete‐valued indicators, and estimate it as a system of dynamic binary and ordered probit models with panel data from the P