Showing 1 - 10 of 13,183
Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a countercyclical direction. In this study, we construct a small open economy model with financial frictions to generate the countercyclical movement in credit standards. Our...
Persistent link: https://www.econbiz.de/10012800343
Persistent link: https://www.econbiz.de/10011672392
Persistent link: https://www.econbiz.de/10010474907
Persistent link: https://www.econbiz.de/10013455420
Persistent link: https://www.econbiz.de/10009304223
Persistent link: https://www.econbiz.de/10011590442
Persistent link: https://www.econbiz.de/10011749400
This paper studies whether financial variables per se should matter for monetary policy. Earlier consensus view -using financial amplification models with disturbances that have no direct effect on credit market conditions- suggests that financial variables should not be assigned an independent...
Persistent link: https://www.econbiz.de/10009407604
The US Federal Reserve cut interest rates more vigorously in the recent recession than the European Central Bank did. By comparison with the Fed, the ECB followed a more measured course of action. We use an estimated dynamic general equilibrium model with financial frictions to show that...
Persistent link: https://www.econbiz.de/10012773305
The US Federal Reserve cut interest rates more vigorously in the recent recession than the European Central Bank did. By comparison with the Fed, the ECB followed a more measured course of action. We use an estimated dynamic general equilibrium model with financial frictions to show that...
Persistent link: https://www.econbiz.de/10012776610