Comment on "Aggregate Implications of Credit Market Imperfections"

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Regulating Capital Flows to Emerging Markets: An Externality View (2018, unknown): “While welfare will unambiguously improve if financial constraints are completely abolished, it is difficult to predict a priori how a mere relaxation of the constraint as captured by an increase in κ would affect welfare, since the relationship between the tightness of constraints and welfare may be”
Misallocation and Financial Market Frictions: Some Direct Evidence from the Dispersion in Borrowing Costs (2012, background): “The key feature of the above specification is that the firm-specific (time-varying) default risk is captured by the distanceto-default (DD), a market-based indicator of credit risk based on the contingent claims framework developed in the seminal work of Merton [1974]. Briefly, this option-theoretic”
Asset Bubbles, Endogenous Growth, and Financial Frictions (2010, unknown): “From (27) and these denitions, (28) can be written as”
FINANCE AND DEVELOPMENT: A TALE OF TWO SECTORS (2011, unknown): “See Kiminori Matsuyama (2007) for an excellent, extensive survey.”
Productivity Losses from Financial Frictions: Can Self-Financing Undo Capital Misallocation? (2014, background): “Duflo (2005) and Matsuyama (2007) for recent surveys of this literature.”
Financial Frictions and the Persistence of History: A Quantitative Exploration (2010, unknown): “1 See Banerjee and Duflo (2005) and Matsuyama (2007) for recent surveys on this literature.”