Search Results for: 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

The great recession that started in 2007, has not only changed the perspective of the macroeconomic literature about the role of financial frictions within the

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economi

The recent global financial crisis illustrates that financial frictions are a significant source of volatility in the economy. This paper investigates monetary