Inflation and risky investment in an economy with asymmetric information and monopolistic loans market
Article Abstract:
Money influences the qualities of funded investment projects and the overall quantity of project capital under an economy with asymmetric information and monopolistic loans markets. In terms of public information of borrowers' types', investment in risky projects heightens when financial return lowers. Such condition does not consistently happens when it comes to private information.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1998
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More uncertainty about the unit root in U.S. real GNP
Article Abstract:
The existence of a unit root for gross national product (GNP) remains uncertain based on an analysis of a trend stationary model. The uncertainty condition was established after a KPSS test failed to rebuff a null hypothesis classifying US real GNP as a trend stationary process. The test also raises doubts on the effectiveness of trend stationary to represent GNP dynamics.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1997
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