Firm entry, credit shocks and business cycles

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buir.advisorBöke, Selin Sayek
dc.contributor.authorKarasoy, Hatice Gökçe
dc.date.accessioned2016-01-08T18:19:43Z
dc.date.available2016-01-08T18:19:43Z
dc.date.issued2012
dc.descriptionAnkara : The Department of Economics, İhsan Doğramacı Bilkent University, 2012.en_US
dc.descriptionThesis (Master's) -- Bilkent University, 2012.en_US
dc.descriptionIncludes bibliographical refences.en_US
dc.description.abstractIn this thesis, we investigate whether, modelling firm dynamics together with credit markets in a two country frame, can provide additional information on international real business cycles in matching certain moments and explain other stylized statistics on business entry. Our motivation is the fact that, in the latest financial crisis, firm entry behavior is quite different between high income and low income countries. Solution of the model is provided with both productivity and credit shocks. Both kinds of shocks match a subset of stylized international business cycle facts. Plus in both kinds of shocks model exhibits the fact that volatility of new entrant firms are higher than incumbent ones. We show that credit shocks are better at explaining highly volatile business cycles in financially less developed countries. In the existence of country-specific credit shocks we observe contagion of crisis, comovements across countries do only exist with global credit shocks. We find out that the firm entry behaviour seen in latest financial crisis that financially developed countries has more volatile firm entry, is only possible with global shocks.en_US
dc.description.provenanceMade available in DSpace on 2016-01-08T18:19:43Z (GMT). No. of bitstreams: 1 0006250.pdf: 601160 bytes, checksum: 3817834a2ea6340ea0ee25c0cfa08342 (MD5)en
dc.description.statementofresponsibilityKarasoy, Hatice Gökçeen_US
dc.format.extentvii, 70 leavesen_US
dc.identifier.urihttp://hdl.handle.net/11693/15516
dc.language.isoEnglishen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectEndogenous Firm Entryen_US
dc.subjectFinance of Firmsen_US
dc.subjectReal Business Cyclesen_US
dc.subject.lccHB3711 .K37 2012en_US
dc.subject.lcshBusiness cycles.en_US
dc.subject.lcshCorporations--Finance.en_US
dc.subject.lcshBusiness enterprises--Finance.en_US
dc.subject.lcshEndogenous growth.en_US
dc.subject.lcshFinancial crises.en_US
dc.titleFirm entry, credit shocks and business cyclesen_US
dc.typeThesisen_US
thesis.degree.disciplineEconomics
thesis.degree.grantorBilkent University
thesis.degree.levelMaster's
thesis.degree.nameMA (Master of Arts)

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