Similar Search Results

Sentiments and aggregate demand fluctuations

Benhabib, Jess; Wang, Pengfei; Wen, Yi - In: Econometrica : journal of the Econometric Society, an … 83 (2015) 2, pp. 549-585

Persistent link: https://www.econbiz.de/10011350646

A comment on monetary policy and rational asset price bubbles

Allen, Franklin; Barlevy, Gadi; Gale, Douglas - 2023

Galí (2014) showed that a monetary policy rule that raises interest rates in response to bubbles can paradoxically lead to larger bubbles. This comment shows that a central bank that wants to dampen bubbles can always do so by raising interest rates aggressively enough. This result is different...

Persistent link: https://www.econbiz.de/10014316806

Credit Search and Credit Cycles

Dong, Feng - 2019

production technology and matching functions, thus providing a micro-foundation for the indeterminacy literature of Benhabib and …

Persistent link: https://www.econbiz.de/10012903923

Financial constraints, endogenous markups, and self-fulfilling equilibria

Benhabib, Jess; Wang, Pengfei - In: Journal of monetary economics 60 (2013) 7, pp. 789-805

Persistent link: https://www.econbiz.de/10010253067

Financial constraints, endogenous markups, and self-fulfilling equilibria

Benhabib, Jess; Wang, Pengfei - In: Journal of Monetary Economics 60 (2013) 7, pp. 789-805

Self-fulfilling equilibria and indeterminacy can easily arise in a simple financial accelerator model with reasonable … parameter calibrations and without increasing returns in production. A key feature for generating indeterminacy in our model is …

Persistent link: https://www.econbiz.de/10010719004