This paper studies how credit rationing affects endogenous growth when capital and debt are related to the firm´s internal net worth, taken as collateral. The accumulation of firm´s net worth determines the growth rate of capital and the growth rate of the economy. The relation between growth...

In this paper we present comparable results on the determinants of firms' investment and their link to monetary policy. The results have been obtained by the Eurosystem Monetary Transmission Network. This network has produced a series of papers in which the use of micro data permits estimating...