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• W2944829317 abstract "A general equilibrium model featuring multiple realistic sources of financial frictions is developed to study how different constraints interact in equilibrium. We highlight, distinguish, and evaluate their differential impacts and rich interactions. The economic impact of financial inclusion policies in an economy depends not only on which constraint is alleviated, but also on the tightness of other constraints. Policy instruments should target the most binding constraint, which likely varies across countries. Moreover, there are important tradeoffs between financial inclusion, GDP, and the distribution of income. The transitional dynamics also differ from those in steady states. Policy makers should consider both." @default.
• W2944829317 created "2019-05-29" @default.
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• W2944829317 date "2021-01-01" @default.
• W2944829317 modified "2023-10-17" @default.
• W2944829317 title "Distinguishing constraints on financial inclusion and their impact on GDP, TFP, and the distribution of income" @default.
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• W2944829317 doi "https://doi.org/10.1016/j.jmoneco.2020.01.003" @default.
• W2944829317 hasPubMedCentralId "https://www.ncbi.nlm.nih.gov/pmc/articles/7944389" @default.
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