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Macroeconomics and Household Heterogeneity
Krueger, Dirk - 2016
The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity amplify and propagate a macroeconomic shock. We focus on the U.S. Great Recession of 2007-2009 and proceed in two steps. First, using data from the Panel Study of Income Dynamics, we...
Persistent link: https://www.econbiz.de/10012989141
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Macroeconomics and Household Heterogeneity
Krueger, Dirk - 2016
The goal of this chapter is to study how, and by how much, household income, wealth, and preference heterogeneity amplify and propagate a macroeconomic shock. We focus on the U.S. Great Recession of 2007-2009 and proceed in two steps. First, using data from the Panel Study of Income Dynamics, we...
Persistent link: https://www.econbiz.de/10012456356
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Buried in the vaults of central banks : monetary gold hoarding and the slide into the Great Depression
Karau, Sören - 2020 - This draft: October 2020
I study whether monetary gold hoarding was the main cause of the Great Depression in a structural VAR analysis. The notion that monetary forces played an important role in bringing about the depression is well established in the narrative literature, but has more recently met some skepticism by...
Persistent link: https://www.econbiz.de/10012405992
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A model of secular stagnation
Eggertsson, Gauti B.; Mehrotra, Neil R. - 2015
Persistent link: https://www.econbiz.de/10011375972
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The impact of monetary policy in the midst of big shocks
Ohanian, Lee E. - In: Journal of economic dynamics & control 49 (2014), pp. 35-48
Persistent link: https://www.econbiz.de/10010486611
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Uncertainty and monetary policy during the great recession
Pellegrino, Giovanni; Castelnuovo, Efrem; Caggiano, Giovanni - 2021
Persistent link: https://www.econbiz.de/10012626992
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Uncertainty and monetary policy during the great recession
Pellegrino, Giovanni; Castelnuovo, Efrem; Caggiano, Giovanni - 2021
Persistent link: https://www.econbiz.de/10013255929
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Uncertainty and monetary policy during the great recession
Pellegrino, Giovanni; Castelnuovo, Efrem; Caggiano, Giovanni - 2021
We employ a nonlinear VAR framework and a state-of-the-art identification strategy to document the large response of real activity to a financial uncertainty shock during and in the aftermath of the great recession. We replicate this evidence with an estimated DSGE framework featuring a concept...
Persistent link: https://www.econbiz.de/10012495676
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Liquidity traps and large-scale finacial crises
Caggiano, Giovanni; Castelnuovo, Efrem; Damette, Olivier; … - 2016
Persistent link: https://www.econbiz.de/10011698812
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Flight to liquidity and systemic bank runs
Robatto, Roberto - 2017
crises. When the probability of runs is positive, depositors increase money demand and reduce deposits; at the economy …-wide level, the velocity of money drops and deflation arises. Two quantitative examples show that the model accounts for a large … fraction of (i) the drop in deposits in the Great Depression, and (ii) the $400 billion run on money market mutual funds in …
Persistent link: https://www.econbiz.de/10011976152