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%T Borrowing constraints and complex dynamics in an OLG framework %A Assenza, Tiziana %A Agliari, Anna %A Gatti, Domenico Delli %A Santoro, Emiliano %J Journal of Economic Behavior & Organization %N 2 %P 656–669 %V 72 %D 2009 %K E32; E52; Borrowing constraints; Credit cycles; Complex dynamics; Monetary policy %= 2012-08-07T13:48:00Z %~ http://www.peerproject.eu/ %> https://nbn-resolving.org/urn:nbn:de:0168-ssoar-315129 %X In this paper we model an OLG economy à la Kiyotaki and Moore whose novel feature is the role of money as a store of value and of bequest as a source of funds to be "invested" in landholding. The dynamics generated by the model are generally characterized by irregular cyclical trajectories and, under special con.guration of the parameters, a strange attractor appears. In this setting, an expansionary monetary policy may have a stabilizing role due to the interaction between money holding and the accumulation of borrowers' net worth. %C NLD %G en %9 Zeitschriftenartikel %W GESIS - http://www.gesis.org %~ SSOAR - http://www.ssoar.info