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dc.contributor.authorMoll, Benjamin
dc.contributor.authorTownsend, Robert M.
dc.contributor.authorZhorin, Victor
dc.date.accessioned2018-03-23T21:23:07Z
dc.date.available2018-03-23T21:23:07Z
dc.date.issued2018-03-23
dc.identifier.issn0027-8424en_US
dc.identifier.issn1091-6490en_US
dc.identifier.urihttp://hdl.handle.net/1721.1/114279
dc.description.abstractWe use a variety of different datasets from Thailand to study not only the extremes of micro and macro variables but also withincountry flow of funds and labor migration. We develop a general equilibrium model that encompasses regional variation in the type of financial friction and calibrate it to measured variation in regional aggregates. The model predicts substantial capital and labor flows fromrural to urban areas even though these differ only in the underlying financial regime. Predictions for micro variables not used directly provide a model validation. Finally, we estimate the impact of a policy of counterfactual, regional isolationism.en_US
dc.publisherProceedings of the National Academy of Sciencesen_US
dc.relation.isversionofhttp://dx.doi.org/10.1073/PNAS.1707055114en_US
dc.rightsArticle is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use.en_US
dc.sourcePNASen_US
dc.titleEconomic development, flow of funds, and the equilibrium interaction of financial frictionsen_US
dc.typeArticleen_US
dc.identifier.citationMoll, Benjamin, Robert M. Townsend, and Victor Zhorin. “Economic Development, Flow of Funds, and the Equilibrium Interaction of Financial Frictions.” Proceedings of the National Academy of Sciences 114, no. 24 (June 7, 2017): 6176–6184.en_US
dc.contributor.mitauthorTownsend, Robert
dc.relation.journalProceedings of the National Academy of Sciencesen_US
dc.eprint.versionFinal published versionen_US
dc.type.urihttp://purl.org/eprint/type/JournalArticleen_US
eprint.statushttp://purl.org/eprint/status/PeerRevieweden_US
dc.date.updated2018-03-01T17:12:13Z
dspace.orderedauthorsMoll, Benjamin; Townsend, Robert M.; Zhorin, Victoren_US
dspace.embargo.termsNen_US
mit.licensePUBLISHER_POLICYen_US


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