Showing 1 - 6 of 6
We develop a variation of the macroeconomic model of banking in Gertler and Kiyotaki (2011) that allows for liquidity mismatch and bank runs as in Diamond and Dybvig (1983). As in Gertler and Kiyotaki, because bank net worth fluctuates with aggregate production, the spread between the expected...
Persistent link: https://www.econbiz.de/10010888624
We develop a canonical framework to think about credit market frictions and aggregate economic activity in the context of the current crisis. We use the framework to address two issues in particular: first, how disruptions in financial intermediation can induce a crisis that affects real...
Persistent link: https://www.econbiz.de/10009002665
Persistent link: https://www.econbiz.de/10005264356
Persistent link: https://www.econbiz.de/10005721094
Persistent link: https://www.econbiz.de/10005611671
Persistent link: https://www.econbiz.de/10004965416