Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis

Carlstrom, Charles T.; Fuerst, Timothy S.

doi:10.26509/frbc-wp-199602

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Working Paper

Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis

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An analysis of the quantitative effects of agency costs in a real business cycle model, showing that these costs can explain why output growth displays positive autocorrelation at short horizons.

05.01.1996WP 96-02DOI 10.26509/frbc-wp-199602

Suggested Citation

Carlstrom, Charles T., and Timothy S. Fuerst. 1996. “Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis.” Federal Reserve Bank of Cleveland, Working Paper No. 96-02. https://doi.org/10.26509/frbc-wp-199602

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Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis

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