Showing 1 - 10 of 439
Since the publication of Keynes' "General Theory of Employment, Interest, and Money" in 1936 many new ideas and solution concepts for macroeconomic problems emerged, disappeared, and were combined in order to appropriately describe macroeconomic phenomena. Nowadays, New Keynesian frameworks are...
Persistent link: https://www.econbiz.de/10008907265
Persistent link: https://www.econbiz.de/10010472698
This paper explores different fiscal stimuli within a business cycle model with an endogenous number of firms. We demonstrate that a changing number of firms is a crucial dimension for evaluating fiscal policy since it accelerates the impacts of fiscal policy. In the presence of demand stimuli...
Persistent link: https://www.econbiz.de/10003950738
Persistent link: https://www.econbiz.de/10012110961
Persistent link: https://www.econbiz.de/10000657977
Persistent link: https://www.econbiz.de/10003305953
Persistent link: https://www.econbiz.de/10003908063
This paper develops a Dynamic Stochastic General Equilibrium (DSGE) model to study how the instability of the banking sector can amplify and propagate business cycles. The model builds on Bernanke, Gertler and Gilchrist (BGG) (1999), who consider credit demand friction due to agency cost, but it...
Persistent link: https://www.econbiz.de/10003915191
accelerator, and financial frictions in the interbank and bank capital markets. He investigates the importance of banking sector …
Persistent link: https://www.econbiz.de/10008695475
-called financial accelerator mechanism developed in Bernanke, Gertler and Gilchrist (1999). The main aim is to obtain a time series for … Area data than the model without them, the former is not satisfactory in many other respects. For instance, the accelerator … ; Euro Area External Finance Premium ; Financial Accelerator ; Bayesian Estimation ; Inflation …
Persistent link: https://www.econbiz.de/10003972629