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"We analyze financial collapses, such as the one that occurred during the U.S. Great Depression, from the perspective of a monetary model with multiple equilibria.The multiplicity arises from the presence of a strategic complementarity due to increasing returns to scale in the intermediation...
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This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy … over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences …
Persistent link: https://www.econbiz.de/10013137108
This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy … over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences …
Persistent link: https://www.econbiz.de/10013319078
This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy … over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences …
Persistent link: https://www.econbiz.de/10011625697
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