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| 01859nam 2200325za 4500 |
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| 001 | 9.867633 |
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| 003 | CaOODSP |
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| 005 | 20221107162351 |
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| 007 | cr ||||||||||| |
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| 008 | 190125s2019 onc #o f|0| 0 eng d |
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| 040 | |aCaOODSP|beng |
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| 041 | |aeng|bfre |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2019-4E-PDF |
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| 100 | 1 |aWright, Randall. |
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| 245 | 10|aFrictional capital reallocation I |h[electronic resource] : |bex ante heterogeneity / |cby Randall Wright, Sylvia Xiaolin Xiao and Yu Zhu. |
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| 260 | |aOttawa, Ontario : |bBank of Canada, |c2019. |
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| 300 | |aii, 41 p. |
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| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2019-4 |
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| 500 | |a"January 2019." |
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| 504 | |aIncludes bibliographic references. |
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| 520 | |a"This paper studies dynamic general equilibrium models where firms trade capital in frictional markets. Gains from trade arise due to ex ante heterogeneity: some firms are better at investment, so they build capital in the primary market; others acquire it in the secondary market. Cases are considered with random search and bargaining, or directed search and posting. For each, we provide results on existence, uniqueness, efficiency and comparative statics. Monetary and fiscal policy are discussed at length. We also discuss how productivity dispersion can be countercyclical while capital reallocation and its price are procyclical"--Abstract. |
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| 546 | |aIncludes abstract in French. |
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| 692 | 07|2gccst|aMonetary policy |
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| 692 | 07|2gccst|aCapital |
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| 700 | 1 |aXiao, Sylvia Xiaolin. |
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| 700 | 1 |aZhu, Yu, |d1966- |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ;|v2019-4.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s1.17 MB|uhttps://publications.gc.ca/collections/collection_2019/banque-bank-canada/FB3-5-2019-4-eng.pdf |
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