Casares, Miguel; Poutineau, Jean-Christophe - In: Revue économique 63 (2012) 5, pp. 935-951
This paper analyses the consequences of the existence of financial frictions and of a banking system on business cycles, in a new Keynesian macroeconomics model. We contrast our conclusions with those obtained in two other existing frameworks (namely the canonical nns model of Woodford, [2003]...