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Chapter 21 The financial accelerator in a quantitative business cycle framework
Bernanke, Ben S.; Gertler, Mark; Gilchrist, Simon - In: Handbook of macroeconomics : volume 1, part C, (pp. 1341-1393). 1999
This chapter develops a dynamic general equilibrium model that is intended to help clarify the role of credit market … developments in credit markets work to amplify and propagate shocks to the macroeconomy. In addition, we add several features to … allows us to study how credit market frictions may influence the transmission of monetary policy. In addition, we allow for …
Persistent link: https://www.econbiz.de/10014024219
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Firm Leverage and Boom-Bust Cycles
Sever, Can - 2023
over the period of 2000-2018. Based on macro data, it shows that a rise in credit to firms is associated with an increase …, even when the changes in credit to households are accounted for. Next, using data from a large sample of firms, it shows …
Persistent link: https://www.econbiz.de/10014353733
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Measuring Real and Financial Cycles in Luxembourg : An Unobserved Components Approach
Guarda, Paolo - 2020
We use unobserved components time series models to extract real and financial cycles for Luxembourg over the period 1980Q1-2018Q2. We find that financial cycles are longer and have larger amplitude compared to standard business cycles. Furthermore, financial cycles are highly correlated with...
Persistent link: https://www.econbiz.de/10012827526
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Endogenous Repo Cycles
Watanabe, Makoto - 2019
This paper presents a simple and tractable equilibrium model of repos, where collateralized credit emerges under … recession and the highest right after the recession and that secured credit is acyclical …
Persistent link: https://www.econbiz.de/10012891911
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Endogenous Repo Cycles
Arbuzov, Vyacheslav - 2019
This paper presents a simple and tractable equilibrium model of repos, where collateralized credit emerges under … recession and the highest right after the recession, and that secured credit is acyclical …
Persistent link: https://www.econbiz.de/10012892066
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Endogenous Repo Cycles
Arbuzov, Vyacheslav - 2019
This paper presents a simple and tractable equilibrium model of repos, where collateralized credit emerges under … recession and the highest right after the recession, and that secured credit is acyclical …
Persistent link: https://www.econbiz.de/10012893709
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Global Recession : A Money Gift Cure Possibly
Soldatos, Gerasimos - 2015
Today, the world economy is at the brink of a major recession at zero lower bound. The recession has been fomented by the underconsumption induced by (i) the increasing income inequality, which is inherent in the neoliberal policymaking followed the last third of a century, and (ii) the...
Persistent link: https://www.econbiz.de/10013024596
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Financial Cycles – Early Warning Indicators of Banking Crises?
Chen, Sally; Svirydzenka, Katsiaryna - 2022
credit gap. Moreover, aggregating this information flags financial crisis many years before the crisis. Lastly, we find that …
Persistent link: https://www.econbiz.de/10014361523
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The Financial Cycle and Macroeconomics : What Have We Learnt?
Borio, Claudio E. V. - 2014
It is high time we rediscovered the role of the financial cycle in macroeconomics. In the environment that has prevailed for at least three decades now, it is not possible to understand business fluctuations and the corresponding analytical and policy challenges without understanding the...
Persistent link: https://www.econbiz.de/10013064801
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Financial Cycles – Early Warning Indicators of Banking Crises?
Chen, Sally; Svirydzenka, Katsiaryna - 2022
credit gap. Moreover, aggregating this information flags financial crisis many years before the crisis. Lastly, we find that …
Persistent link: https://www.econbiz.de/10013305628