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Dealing with financial instability under a DSGE modeling approach with banking intermediation : a predictability analysis versus TVP-VARs
Bekiros, Stelios; Cardani, Roberta; Paccagnini, Alessia; … - 2016
In the dynamic stochastic general equilibrium (DSGE) literature there has been an increasing aware- ness on the role … that the banking sector can play in macroeconomic activity. We present a DSGE model with financial intermediation as in … crucial in any attempted empirical analysis. Since DSGE modelling usually fails to take into account inherent nonlinearities …
Persistent link: https://www.econbiz.de/10011518833
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Financial (in)stability, supervision and liquidity injections : a dynamic general equilibrium approach
De Walque, Gregory; Pierrard, Olivier; Rouabah, Abdelaziz - 2008
This paper develops a dynamic stochastic general equilibrium model with interactions between an heterogeneous banking sector and other private agents. We introduce endogenous default probabilities for both firms and banks, and allow for bank regulation and liquidity injection into the...
Persistent link: https://www.econbiz.de/10011599187
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Is monetary policy always effective? : incomplete interest rate pass-through in a DSGE model
Binning, Andrew; Bjørnland, Hilde Christiane; Maih, Junior - 2019
We estimate a regime-switching DSGE model with a banking sector to explain incomplete and asymmetric interest rate pass …
Persistent link: https://www.econbiz.de/10012214427
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Is monetary policy always effective? : incomplete interest rate pass-through in a DSGE model
Binning, Andrew; Bjørnland, Hilde Christiane; Maih, Junior - 2019
Persistent link: https://www.econbiz.de/10012175956
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The unemployment accelerator
Blanco, Andres; Navarro, Gaston - 2016
This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on two key assumptions: search frictions in the labor...
Persistent link: https://www.econbiz.de/10011573865
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Harmful pro-competitive effects of trade in presence of credit market frictions
Foellmi, Reto; Oechslin, Manuel - 2019
Persistent link: https://www.econbiz.de/10012001325
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Do household finances constrain unconventional fiscal policy?
Baker, Scott; Küng, Lorenz; McGranahan, Leslie; … - 2018
When the zero lower bound on nominal interest rate binds, monetary policy makers may lack traditional tools to stimulate aggregate demand. We investigate whether "unconventional" fiscal policy, in the form of pre-announced consumption tax changes, has the potential to meaningfully shift durables...
Persistent link: https://www.econbiz.de/10011924732
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Do household finances constrain unconventional fiscal policy?
Baker, Scott; Küng, Lorenz; McGranahan, Leslie; … - 2018
When the zero lower bound on nominal interest rate binds, monetary policy makers may lack traditional tools to stimulate aggregate demand. We investigate whether "unconventional" fiscal policy, in the form of pre-announced consumption tax changes, has the potential to meaningfully shift durables...
Persistent link: https://www.econbiz.de/10012219281
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Harmful pro-competitive effects of trade in presence of credit market frictions
Foellmi, Reto; Oechslin, Manuel - 2019
Persistent link: https://www.econbiz.de/10012123411