Credit cycles, human capital and the distribution of income

Abbott, B., Gallipoli, G., Meghir, C., & Violante, G. L. (2016). Education policy and intergenerational transfers in equilibrium. NBER Working Paper No. 18782. Afonso, 2010, Government size, composition, volatility and economic growth, Eur. J. Polit. Econ., 26, 517, 10.1016/j.ejpoleco.2010.02.002 Almeida, 2005, The effect of external finance on the equilibrium allocation of capital, J. Financ. Econ., 75, 133, 10.1016/j.jfineco.2004.06.001 Andolfatto, 2006, Human capital investment and debt constraints, Rev. Econ. Dyn., 9, 52, 10.1016/j.red.2005.08.002 Barro, 2013, A new data set of educational attainment in the world, 1950–2010, J. Dev. Econ., 104, 184, 10.1016/j.jdeveco.2012.10.001 Campello, 2010, The real effects of financial constraints: evidence from a financial crisis, J. Financ. Econ., 97, 470, 10.1016/j.jfineco.2010.02.009 Catherine, S., Chaney, T., Huang, Z., Sraer, D., & Thesmar, D. (2018). Quantifying reduced-form evidence on collateral constraints. Available at SSRN: https://ssrn.com/abstract=2631055. Cunha, 2010, Estimating the technology of cognitive and noncognitive skill formation, Econometrica, 78, 883, 10.3982/ECTA6551 Davies, J. (2003). Empirical evidence on human capital externalities. Master’s thesis. University of Western Ontario. Economic Policy Research Institute Working Papers 20035. Diamond, 1965, National debt in a neoclassical growth model, Am. Econom. Rev., 55, 1126 Feenstra, 2015, The next generation of the penn world table, Am. Econ. Rev., 105, 3150, 10.1257/aer.20130954 Gali, 2014, Monetary policy and rational asset price bubbles, Am. Econ. Rev., 104, 721, 10.1257/aer.104.3.721 Galor, 2004, From physical to human capital accumulation: inequality and the process of development, Rev. Econ. Stud., 71, 1001, 10.1111/0034-6527.00312 Grant, 2007, Estimating credit constraints among US households, Oxf. Econ. Pap., 59, 583, 10.1093/oep/gpm024 Greenwald, 1993, Asymmetric information and the new theory of the firm: financial constraints and risk behavior, Am. Econ. Rev., 80, 160 Hai, 2017, Inequality in human capital and endogenous credit constraints, Rev. Econ. Dyn., 25, 4, 10.1016/j.red.2017.01.001 Hirano, 2017, Asset bubbles, endogenous growth, and financial frictions, Rev. Econ. Stud., 84, 406, 10.1093/restud/rdw059 Jones, 2010, The new kaldor facts: ideas, institutions, population, and human capital, Am. Econ. J. Macroecon., 2, 224, 10.1257/mac.2.1.224 Kaldor, 1961, Capital Accumulation and Economic Growth, 84, 177 Kindleberger, 1996 King, 1993, Finance and growth: schumpeter might be right, Q. J. Econ., 108, 717, 10.2307/2118406 Lochner, 2011, The nature of credit constraints and human capital, Am. Econ. Rev., 101, 2487, 10.1257/aer.101.6.2487 Mankiw, 1992, A contribution to the empirics of economic growth, Q. J. Econ., 107, 407, 10.2307/2118477 Matsuyama, 2013, The good, the bad, and the ugly: an inquiry into the causes and nature of credit cycles, Theor. Econ., 8, 623, 10.3982/TE1131 Matsuyama, 2016, Revisiting the model of credit cycles with good and bad projects, J. Econ. Theory, 163, 525, 10.1016/j.jet.2016.02.010 Minsky, 1982, The financial instability hypothesis: capitalistic processes and the behavior of the economy, 13 Piketty, 2014 Psacharopoulos, 1994, Returns to investment in education: a global update, World Dev., 22, 1325, 10.1016/0305-750X(94)90007-8 Romer, 1993, Idea gaps and object gaps in economic development, J. Monet. Econ., 32, 543, 10.1016/0304-3932(93)90029-F Schularick, 2012, Credit booms gone bust: monetary policy, leverage cycles, and financial crises, 1870–2008, Am. Econ. Rev., 102, 1029, 10.1257/aer.102.2.1029 Stiglitz, 2012, Macroeconomic fluctuations, inequality, and human development, J. Human Dev. Capabil., 13, 31, 10.1080/19452829.2011.643098 Stiglitz, 1981, Credit rationing in markets with imperfect information, Am. Econ. Rev., 71, 393 Stiglitz, 1983, Incentive effects of terminations: applications to the credit and labor markets, Am. Econ. Rev., 73, 912 Stiglitz, 1992, Asymmetric information in credit markets and its implications for macro-economics, Oxf. Econ. Pap., 44, 694, 10.1093/oxfordjournals.oep.a042071 Thakor, 2015, Lending booms, smart bankers, and financial crises, Am. Econ. Rev., 105, 305, 10.1257/aer.p20151090 Tirole, 2005