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Liquidity Trap and Excessive Leverage
Korinek, Anton; Simsek, Alp - International Monetary Fund (IMF) - 2014
We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest rate needs to fall to induce unconstrained agents to pick up the decline in aggregate demand....
Persistent link: https://www.econbiz.de/10010800974
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Regional Labor Market Adjustments in the United States and Europe
Dao, Mai; Furceri, Davide; Loungani, Prakash - International Monetary Fund (IMF) - 2014
is typically larger in Europe than in the US, the immediate response of net migration in Europe has increased over time. …
Persistent link: https://www.econbiz.de/10010790322
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The Driving Force behind the Boom and Bust in Construction in Europe
Sun, Yan; Mitra, Pritha; Simone, Alejandro - International Monetary Fund (IMF) - 2013
economies within and outside Europe) for 1990-2011, we find that country’s geography, demographics, and economic conditions are …
Persistent link: https://www.econbiz.de/10010790411
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The Domestic Credit Supply Response to International Bank Deleveraging; Is Asia Different?
Aiyar, Shekhar; Jain-Chandra, Sonali - International Monetary Fund (IMF) - 2012
sources of variation are used to create instruments for the deleveraging shock. We find that the contraction in European bank … more robust policy response and healthier local bank balance sheets at the outset of the crisis. …
Persistent link: https://www.econbiz.de/10011242438