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A policy model to analyze macroprudential regulations and monetary policy
Alpanda, Sami; Cateau, Gino; Meh, Césaire Assah - 2014
We construct a small-open-economy, New Keynesian dynamic stochastic generalequilibrium model with real-financial linkages to analyze the effects of financial shocks and macroprudential policies on the Canadian economy. Our model has four key features. First, it allows for non-trivial...
Persistent link: https://www.econbiz.de/10010238951
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New methods for macro-financial model comparison and policy analysis
Wieland, Volker; Afanasyeva, Elena; Ngougning, Meguy Kuete - 2016
The global financial crisis and the ensuing criticism of macroeconomics have inspired researchers to explore new modeling approaches. There are many new models that deliver improved estimates of the transmission of macroeconomic policies and aim to better integrate the financial sector in...
Persistent link: https://www.econbiz.de/10011527276
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A Policy Model to Analyze Macroprudential Regulations and Monetary Policy
Alpanda, Sami - 2014
We construct a small-open-economy, New Keynesian dynamic stochastic general-equilibrium model with real-financial linkages to analyze the effects of financial shocks and macroprudential policies on the Canadian economy. Our model has four key features. First, it allows for non-trivial...
Persistent link: https://www.econbiz.de/10013047527
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Credit, financial conditions and the business cycle in China
Lodge, David; Soudan, Michel - 2019
This paper presents empirical evidence of the role of financial conditions in China's business cycle. We estimate a Bayesian-VAR for the Chinese economy, incorporating a financial conditions index for China that captures movements across a range of financial variables, including interest rates...
Persistent link: https://www.econbiz.de/10011975616
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Chapter 15. New Methods for Macro-Financial Model Comparison and Policy Analysis
Wieland, V.; Afanasyeva, E.; Kuete, M.; Yoo, J. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 1241-1319). 2016
The global financial crisis and the ensuing criticism of macroeconomics have inspired researchers to explore new modeling approaches. There are many new models that deliver improved estimates of the transmission of macroeconomic policies and aim to better integrate the financial sector in...
Persistent link: https://www.econbiz.de/10014024276
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Financial Frictions and Inflation Differentials in a Monetary Union
Hristov, Nikolay - 2010
This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …
Persistent link: https://www.econbiz.de/10013136243
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Narrative-driven fluctuations in sentiment : evidence linking traditional and social media
Macaulay, Alistair; Song, Wenting - 2023 - Last updated: April 14, 2023
graphs and show how exposure to different narratives can affect expectations in an otherwise standard macroeconomic model. We …
Persistent link: https://www.econbiz.de/10014253790
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A model of cycles and bubbles under heterogeneous beliefs in financial markets
Burs, Carina - In: Cogent economics & finance 11 (2023) 2, pp. 1-29
I study the effect of heterogeneous beliefs about asset prices on the long-term behavior of financial markets. Starting from the ideas of Abreu and Brunnermeier (2003), a two-dimensional system of differential equations is developed. The first dynamic variable is the asset price growth rate. The...
Persistent link: https://www.econbiz.de/10014501110
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Long-term debt propagation and real reversals
Drehmann, Mathias; Juselius, Mikael; Korinek, Anton - 2023
We examine a propagation mechanism that arises from households' long-term borrowing and show empirically that it has sizable real effects. The mechanism recognises that when there is long-term debt, an impulse to new borrowing generates a predictable hump-shaped path of future debt service. We...
Persistent link: https://www.econbiz.de/10014248726
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China's financial crisis : the role of banks and monetary policy
Le, Vo Phuong Mai; Matthews, Kent; Meenagh, David; … - 2015
This paper develops a model of the Chinese economy using a DSGE framework that accommodates a banking sector and money …
Persistent link: https://www.econbiz.de/10010465443