Narrow search
Showing 1 - 10 of 4,696
Cover Image
Theoretical notes on bubbles and the current crisis
Martin, Alberto; Ventura, Jaume - 2011
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10011605394
Cover Image
Theoretical notes on bubbles and the current crisis
Martin, Alberto; Ventura, Jaume - 2011
fiscal policy. - Bubbles ; financial accelerator ; credit constraints ; financial crisis ; pyramid schemes …
Persistent link: https://www.econbiz.de/10009160016
Cover Image
Theoretical Notes on Bubbles and the Current Crisis
Martin, Alberto - 2011
We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10013124891
Cover Image
Bubbles and crowding-in of capital via a savings glut
Hillebrand, Marten; Kikuchi, Tomoo; Sakuragawa, Masaya - 2013
This paper uncovers a novel mechanism by which bubbles crowd in capital investment. If capital is initially depressed … by a binding credit constraint, injecting a bubble triggers a savings glut. Higher returns in a new bubbly equilibrium … channel is a robust phenomenon that occurs along the entire time path after bubbles are injected. …
Persistent link: https://www.econbiz.de/10010202848
Cover Image
Bubbles and crowding-in of capital via a savings glut : conference paper
Hillebrand, Marten; Kikuchi, Tomoo; Sakuragawa, Masaya - 2014
This paper uncovers a novel mechanism by which bubbles crowd in capital investment. If capital is initially depressed … by a binding credit constraint, injecting a bubble triggers a savings glut. Higher returns in a new bubbly equilibrium … channel is a robust phenomenon that occurs along the entire time path after bubbles are injected. …
Persistent link: https://www.econbiz.de/10010490685
Cover Image
Financial variables as predictors of real growth vulnerability
Reichlin, Lucrezia; Ricco, Giovanni; Hasenzagl, Thomas - 2020 - This version: 30th October 2019
proposed by Hasenzagl et al. (2018). We distinguish between price variables such as credit spreads and stock variables such as …
Persistent link: https://www.econbiz.de/10012173525
Cover Image
Financial conditions and density forecasts for US output and inflation
Alessandri, Piergiorgio; Mumtaz, Haroon - 2014
When do financial markets help in predicting economic activity? With incomplete markets, the link between financial and real economy is state-dependent and financial indicators may turn out to be useful particularly in forecasting "tail" macroeconomic events. We examine this conjecture by...
Persistent link: https://www.econbiz.de/10010339756
Cover Image
Assessing macro-financial linkages: A model comparison exercise
Gerke, Rafael; Jonsson, Magnus; Kliem, Martin; Kolasa, … - 2012
The recent global financial crisis has increased interest in macroeconomic models that incorporate financial linkages. Here, we compare the simulation properties of five mediumsized general equilibrium models used in Eurosystem central banks which incorporate such linkages. The financial...
Persistent link: https://www.econbiz.de/10010308264
Cover Image
U.S. monetary policy spillovers to emerging markets: both shocks and vulnerabilities matter
Ahmed, Shaghil; Akinci, Ozge; Queralto, Albert - 2021
We explore how the sources of shocks driving interest rates, country vulnerabilities, and central bank communications affect the spillovers of U.S. monetary policy changes to emerging market economies (EMEs). We utilize a two-country New Keynesian model with financial frictions and partly...
Persistent link: https://www.econbiz.de/10012584356
Cover Image
Financial frictions and the wealth distribution
Fernández-Villaverde, Jesús; Hurtado, Samuel; Nuño, Galo - 2020
We postulate a nonlinear DSGE model with a financial sector and heterogeneous households. In our model, the interaction between the supply of bonds by the financial sector and the precautionary demand for bonds by households produces significant endogenous aggregate risk. This risk induces an...
Persistent link: https://www.econbiz.de/10012260513