Similar Search Results

High frequency data and a weekly economic index during the pandemic

Lewis, Daniel J.; Mertens, Karel; Stock, James H.; … - 2020

This paper describes a weekly economic index (WEI) developed to track the rapid economic developments associated with the onset of and policy response to the novel coronavirus in the United States. The WEI, with its ten component series, tracks the overall economy. Comparing the contributions of...

Persistent link: https://www.econbiz.de/10012391505

Measuring real activity using a weekly economic index

Lewis, Daniel J.; Mertens, Karel; Stock, James H.; … - 2020 - Revised September 2020

This paper describes a weekly economic index (WEI) developed to track the rapid economic developments associated with the onset of and policy response to the novel coronavirus in the United States. The WEI is a weekly composite index of real economic activity, with eight of ten series available...

Persistent link: https://www.econbiz.de/10012200037

Multimodality in macro-financial dynamics

Adrian, Tobias; Boyarchenko, Nina; Giannone, Domenico - 2019

We estimate the evolution of the conditional joint distribution of economic and financial conditions in the United States, documenting a novel empirical fact: while the joint distribution is approximately Gaussian during normal periods, sharp tightenings of financial conditions lead to the...

Persistent link: https://www.econbiz.de/10012123512

A unified framework for dimension reduction in forecasting

Barbarino, Alessandro; Bura, Efstathia - 2017

series forecasting models for economic variables. In these models, the reduction of the predictors and the modeling and … forecasting of the response y are carried out in two separate and independent phases. We introduce a potentially more attractive … of widely used macroeconomic series data with one or two sufficient reductions delivering similar forecasting performance …

Persistent link: https://www.econbiz.de/10011708094

Heterogeneity and stability : bolster the strong, not the weak

Choi, Dong Beom - 2013

This paper provides a model of systemic panic among financial institutions with heterogeneous fragilities. Concerns about potential spillovers from each other generate strategic interaction among institutions, triggering a preemption game in which one tries to exit the market before the others...

Persistent link: https://www.econbiz.de/10010201301

Who can tell which banks will fail?

Blickle, Kristian; Brunnermeier, Markus Konrad; Luck, … - 2022

We use the German Crisis of 1931, a key event of the Great Depression, to study how depositors behave during a bank run in the absence of deposit insurance. We find that deposits decline by around 20 percent during the run and that there is an equal outflow of retail and nonfinancial wholesale...

Persistent link: https://www.econbiz.de/10013161892

Estimating macroeconomic models of financial crises: an endogenous regime-switching approach

Benigno, Gianluca; Foerster, Andrew; Otrok, Christopher M. - 2020

We estimate a workhorse dynamic stochastic general equilibrium (DSGE) model with an occasionally binding borrowing constraint. First, we propose a new speciﬁcation of the occasionally binding constraint, where the transition between the unconstrained and constrained states is a stochastic...

Persistent link: https://www.econbiz.de/10012309200

Uncertain booms and fragility

Lee, Michael Junho - 2018

I develop a framework of the buildup and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: "normal times", periods of modest investment, and "booms", periods of expansionary investment. Normal times occur when the...

Persistent link: https://www.econbiz.de/10011880642

Income inequality, financial crises, and monetary policy

Cairó, Isabel; Sim, Jae W. - 2018

We construct a general equilibrium model in which income inequality results in insufficient aggregate demand, deflation pressure, and excessive credit growth by allocating income to agents featuring low marginal propensity to consume, and if excessive, can lead to an endogenous financial crisis....

Persistent link: https://www.econbiz.de/10011932429

Does going easy on distressed banks help economic growth?

Hundtofte, Sean - 2017

During banking crises, regulators often relax their normal requirements and refrain from closing financially troubled banks. I estimate the real effects of such regulatory forbearance by comparing differences in state-level economic outcomes by the amount of forbearance extended during the U.S....

Persistent link: https://www.econbiz.de/10011729616

1
2
3
4
5
6
7
8
9
10
Next
Last