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Monetary policy and the financial accelerator in a monetary union
Kempf, Hubert; Gilchrist, Simon; Hairault, Jean-Olivier - 2002
In this paper, we consider the effect of a monetary union in a model with a significant role for financial market imperfections. We do so by introducing a financial accelerator into a stochastic general equilibrium model of a two country economy. We show that financial market imperfections...
Persistent link: https://www.econbiz.de/10011604221
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Monetary policy and the financial accelerator in a monetary union
Gilchrist, Simon; Hairault, Jean-Olivier; Kempf, Hubert - Federal Reserve Board (Board of Governors of the … - 2002
In this paper, we consider the effect of a monetary union in a model with a significant role for financial market imperfections. We do so by introducing a financial accelerator into a stochastic general equilibrium macro model of a two country economy. We show that financial market imperfections...
Persistent link: https://www.econbiz.de/10005368321
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Monetary policy and the financial accelerator in a monetary union
Kempf, Hubert; Gilchrist, Simon; Hairault, Jean-Olivier - European Central Bank - 2002
In this paper, we consider the effect of a monetary union in a model with a significant role for financial market imperfections. We do so by introducing a financial accelerator into a stochastic general equilibrium model of a two country economy. We show that financial market imperfections...
Persistent link: https://www.econbiz.de/10005344879
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Monetary policy and the financial accelerator in a monetary union
Gilchrist, Simon; Hairault, Jean-Olivier; Kempf, Hubert - 2002
Persistent link: https://www.econbiz.de/10001732224
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Monetary Policy and the Financial Accelerator in a Monetary Union
Gilchrist, Simon; Hairault, Jean-Olivier; Kempf, Hubert - 2021
In this paper, we consider the effect of a monetary union in a model with a significant role for financial market imperfections. We do so by introducing a financial accelerator into a stochastic general equilibrium macro model of a two country economy. We show that financial market imperfections...
Persistent link: https://www.econbiz.de/10013320208
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Monetary policy and the financial accelerator in a monetary union
Gilchrist, Simon - 2002
Persistent link: https://www.econbiz.de/10013434501