Construct · 1 fields · 1 citations

pecuniary externality: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed

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Macroeconomics

the effect of one agent's choices on others through prices, which harms welfare when prices enter financial constraints or incomplete markets.

In macroeconomics, pecuniary externality refers to the effect of one agent's choices on others through prices, which harms welfare when prices enter financial constraints or incomplete markets. This meaning comes from Dávila (2017) in The Review of Economic Studies.[1]

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Nearby constructs

agent3 fields · 5 citationsjingle · one word, three constructs externality3 fields · 5 citationsjingle · one word, three constructs financing constraints1 fields · 1 citationsanchor · a standalone construct

References

Dávila, E., & Korinek, A. (2017). Pecuniary Externalities in Economies with Financial Frictions. The Review of Economic Studies, 85(1), 352-395. https://doi.org/10.1093/restud/rdx010

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