[ECON20141215]  
      宏觀經濟學研討會          （總第166期）      
 
  【時間】2014年10月15日（周三）12：15－13：45  
  【地點】明商0302教室  
  【主講】陳小亮  中國人民大學經濟學院  
  【主題】Productivity Losses from Financial Frictions: Can Self-Financing Undo Capital Misallocation (written by Benjamin Moll, The American Economic Review, 2014, 104-10)  
  【摘要】I develop a highly tractable general equilibrium model in which heterogeneous producers face collateral constraints, and study the effect of financial frictions on capital misallocation and aggregate productivity. My economy is isomorphic to a Solow model but with time-varying TFP. I argue that the persistence of idiosyncratic productivity shocks determines both the size of steady state productivity losses and the speed of transitions: if shocks are persistent, steady state losses are small but transitions are slow. Even if financial frictions are unimportant in the long-run, they tend to matter in the short-run and analyzing steady states only can be misleading.  
  【主持】陳彥斌 教授  
 
 
  人大宏觀經濟學研討會（Macro Workshop）旨在追蹤宏觀經濟學國際最新進展，倡導構建符合國情的動態優化模型，并使用計算機模擬研究經濟增長、收入分配和宏觀政策等中國宏觀經濟重大問題。  
 
 
  聯系人：郭豫媚    Email：Macro_Workshop@163.com  
  資料下載：www.docin.com/mydoc-88265459-1.html  
 
 
  更多講座信息請訪問：www.dehf4y.cn，www.yanjiuyuan.com.cn  
 
 
 
 
 
 
 
      經濟學院               中國經濟改革與發展研究院