Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 11, 2017 erstellt
Description:
This paper presents a model economy with endogenous credit constraints and endogenous growth, in which agents face a trade-off between investing resources to improve the pledgeability of collateral assets and the accumulation of human capital. The model generates both growth miracles and stagnant economies