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Cited by 177

The DOI matches its Crossref record; 6 of the 6 references it cites were found in a registry or an index.

Endogenous Liquidity and the Business Cycle

Bigio, Saki·2015·American Economic Review
DOI 10.1257/aer.20110035
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Abstract

I study an economy where asymmetric information about the quality of capital endogenously determines liquidity. Liquid funds are key to relaxing financial constraints on investment and employment. These funds are obtained by selling capital or using it as collateral. Liquidity is determined by balancing the costs of obtaining liquidity under asymmetric information against the benefits of relaxing financial constraints. Aggregate fluctuations follow increases in the dispersion of capital quality, which raise the cost of obtaining liquidity. An estimated version of the model can generate patterns for quantities and credit conditions similar to the Great Recession. (JEL D82, E22, E24, E32, E44, G01)

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Metadata

Authors
Bigio, S.
Venue
American Economic Review
Publisher
American Economic Association
Published
2015-06-01
Volume
105
Issue
6
Pages
1883-1927
ISSN
0002-8282 (ISSN-L)
DOI
10.1257/aer.20110035
OpenAlex
W2120166711
Cited by
177
References
6
FWCI
44.05
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Endogenous Liquidity and the Business Cycle. https://app.cochat.ai/papers/10.1257/aer.20110035
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Bigio, S. (2015). Endogenous Liquidity and the Business Cycle. American Economic Review. https://doi.org/10.1257/aer.20110035

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.