Agenor, Pierre-Richard; Bratsiotis, George J.; Pfajfar, … - In: Macroeconomic Dynamics 18 (2014) 5, pp. 985-997
This paper examines the behavior of the finance premium after technology and monetary shocks in a dynamic stochastic general equilibrium (DSGE) model where borrowers use a fraction of their production (output) as collateral. We show that this simple framework is capable of producing a...
