Financial Frictions and Sources of Business Cycle:
This paper estimates a New Keynesian DSGE model with an explicit financial intermediary sector. Having measures of financial stress, such as the spread between lending and borrowing, enables the model to capture the impact of the financial crisis in a more direct and efficient way. The model fits US...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2014
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Schriftenreihe: | IMF Working Papers
Working Paper No. 14/194 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | This paper estimates a New Keynesian DSGE model with an explicit financial intermediary sector. Having measures of financial stress, such as the spread between lending and borrowing, enables the model to capture the impact of the financial crisis in a more direct and efficient way. The model fits US post-war macroeconomic data well, and shows that financial shocks play a greater role in explaining the volatility of macroeconomic variables than marginal efficiency of investment (MEI) shocks |
Beschreibung: | 1 Online-Ressource (33 p) |
ISBN: | 1498347797 9781498347792 |
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spelling | Taheri Sanjani, Marzie Verfasser aut Financial Frictions and Sources of Business Cycle Taheri Sanjani, Marzie Washington, D.C International Monetary Fund 2014 1 Online-Ressource (33 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 14/194 This paper estimates a New Keynesian DSGE model with an explicit financial intermediary sector. Having measures of financial stress, such as the spread between lending and borrowing, enables the model to capture the impact of the financial crisis in a more direct and efficient way. The model fits US post-war macroeconomic data well, and shows that financial shocks play a greater role in explaining the volatility of macroeconomic variables than marginal efficiency of investment (MEI) shocks Online-Ausg http://elibrary.imf.org/view/IMF001/22113-9781498347792/22113-9781498347792/22113-9781498347792.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Taheri Sanjani, Marzie Financial Frictions and Sources of Business Cycle |
title | Financial Frictions and Sources of Business Cycle |
title_auth | Financial Frictions and Sources of Business Cycle |
title_exact_search | Financial Frictions and Sources of Business Cycle |
title_exact_search_txtP | Financial Frictions and Sources of Business Cycle |
title_full | Financial Frictions and Sources of Business Cycle Taheri Sanjani, Marzie |
title_fullStr | Financial Frictions and Sources of Business Cycle Taheri Sanjani, Marzie |
title_full_unstemmed | Financial Frictions and Sources of Business Cycle Taheri Sanjani, Marzie |
title_short | Financial Frictions and Sources of Business Cycle |
title_sort | financial frictions and sources of business cycle |
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