Financial Frictions And Sources Of Business Cycle
DOWNLOAD
Download Financial Frictions And Sources Of Business Cycle PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Financial Frictions And Sources Of Business Cycle book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Financial Frictions And Sources Of Business Cycle
DOWNLOAD
Author : Marzie Taheri Sanjani
language : en
Publisher: International Monetary Fund
Release Date : 2014-10-23
Financial Frictions And Sources Of Business Cycle written by Marzie Taheri Sanjani and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-23 with Business & Economics categories.
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.
Hysteresis And Business Cycles
DOWNLOAD
Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 2020-05-29
Hysteresis And Business Cycles written by Ms.Valerie Cerra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-29 with Business & Economics categories.
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Output Gap In Presence Of Financial Frictions And Monetary Policy Trade Offs
DOWNLOAD
Author : Francesco Furlanetto
language : en
Publisher: International Monetary Fund
Release Date : 2014-07-18
Output Gap In Presence Of Financial Frictions And Monetary Policy Trade Offs written by Francesco Furlanetto and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-18 with Business & Economics categories.
The recent global financial crisis illustrates that financial frictions are a significant source of volatility in the economy. This paper investigates monetary policy stabilization in an environment where financial frictions are a relevant source of macroeconomic fluctuation. We derive a measure of output gap that accounts for frictions in financial market. Furthermore we illustrate that, in the presence of financial frictions, a benevolent central bank faces a substantial trade-off between nominal and real stabilization; optimal monetary policy significantly reduces fluctuations in price and wage inflations but fails to alleviate the output gap volatility. This suggests a role for macroprudential policies.
Imf Research Bulletin December 2014
DOWNLOAD
Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-15
Imf Research Bulletin December 2014 written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-15 with Business & Economics categories.
The December 2015 IMF Research Bulletin features a sampling of key research from the IMF. The Research Summaries in this issue look at “The Impact of Deflation and Lowflation on Fiscal Aggregates (Nicolas End, Sampawende J.-A. Tapsoba, Gilbert Terrier, and Renaud Duplay); and “Oil Exporters at the Crossroads: It Is High Time to Diversify” (Reda Cherif and Fuad Hasanov). Mahvash Saeed Qureshi provides an overview of the fifth Lindau Meeting in Economics in “Meeting the Nobel Giants.” In the Q&A column on “Seven Questions on Financial Frictions and the Sources of the Business Cycle, Marzie Taheri Sanjani looks at the driving forces of the business cycle and macroeconomic models. The top-viewed articles in 2014 from the IMF Economic Review are highlighted, along with recent IMF Working Papers, Staff Discussion Notes, and IMF publications.
Uncertainty Financial Frictions And Nominal Rigidities A Quantitative Investigation
DOWNLOAD
Author : Ambrogio Cesa-Bianchi
language : en
Publisher: International Monetary Fund
Release Date : 2017-09-29
Uncertainty Financial Frictions And Nominal Rigidities A Quantitative Investigation written by Ambrogio Cesa-Bianchi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-29 with Business & Economics categories.
Are uncertainty shocks a major source of business cycle fluctuations? This paper studies the effect of a mean preserving shock to the variance of aggregate total factor productivity (macro uncertainty) and to the dispersion of entrepreneurs' idiosyncratic productivity (micro uncertainty) in a financial accelerator DSGE model with sticky prices. It explores the different mechanisms through which uncertainty shocks are propagated and amplified. The time series properties of macro and micro uncertainty are estimated using U.S. aggregate and firm-level data, respectively. While surprise increases in micro uncertainty have a larger impact on output than macro uncertainty, these account for a small (non-trivial) share of output volatility.
Farms Fertiliser And Financial Frictions
DOWNLOAD
Author : Mr.Sébastien Walker
language : en
Publisher: International Monetary Fund
Release Date : 2017-05-05
Farms Fertiliser And Financial Frictions written by Mr.Sébastien Walker and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-05 with Business & Economics categories.
This paper develops a Dynamic Stochastic General Equilibrium (DSGE) model with a financial accelerator which captures key features of low-income countries (LICs). The predominance of supply shocks in LICs poses distinct challenges for policymakers, given the negative correlation between inflation and the output gap in the case of supply shocks. Our results suggest that: (1) in the face of a supply-side shock, the most desirable interest rate rule involves simply targeting current inflation and smoothing the policy interest rate; and (2) ignoring financial frictions when evaluating policy rules can be particularly problematic in LICs, where financial frictions loom especially large.
Frontiers Of Business Cycle Research
DOWNLOAD
Author : Thomas F. Cooley
language : en
Publisher: Princeton University Press
Release Date : 1995-02-26
Frontiers Of Business Cycle Research written by Thomas F. Cooley and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-02-26 with Business & Economics categories.
This introduction to modern business cycle theory uses a neoclassical growth framework to study the economic fluctuations associated with the business cycle. Presenting advances in dynamic economic theory and computational methods, it applies concepts to t
Advances In Economics And Econometrics
DOWNLOAD
Author : Econometric Society. World Congress
language : en
Publisher: Cambridge University Press
Release Date : 2013-05-27
Advances In Economics And Econometrics written by Econometric Society. World Congress and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-27 with Business & Economics categories.
The first volume of edited papers from the Tenth World Congress of the Econometric Society 2010.
The Chinese Economic Transformation
DOWNLOAD
Author : Song, Ligang
language : en
Publisher: ANU Press
Release Date : 2019-07-10
The Chinese Economic Transformation written by Song, Ligang and has been published by ANU Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-10 with Business & Economics categories.
The Chinese Economic Transformation, the 19th volume in the China Update book series, provides an opportunity for young economists to share their views on various issues relating to the Chinese economic transformation. More than half of the contributors to this book are female scholars. Some of the contributors are rising stars in the studies of the Chinese economy and economic transition, and some only recently received their PhDs and are on their way to establishing themselves in the field of China studies. But they have one thing in common: to passionately observe, study and research what is going on in the Chinese economic transformation during the reform period; and, by so doing, make contributions to the policy debates on, and general understanding of, the Chinese economy. The chapters in this volume include an in-depth probe into challenges in capital and credit allocation due to financial friction and policy distortions; investigating the causes of growth slow-down in China and suitable policy responses; the evolution of the household registration system and its impact on off-farm employment and the integration of rural and urban labour markets; the growth, scale and characteristics of nonstandard employment; the development of rural e-commerce and its economic impact; innovation performance of listed enterprises in China; financial services liberalisation and its impact on firms’ performance; financing support schemes for small and medium-sized enterprises (SMEs) and the effect on banks’ credit allocation to SMEs; the potential costs of US–China trade conflict and ways to mitigate them; gender income gap in China’s labour market; causes of blockage of Chinese overseas direct investment and strategies to reduce the probability of encountering obstacles; and the role of state capital in the iron ore boom in Australia. The great variety of topics in this year’s Update allows readers to understand the current shape of the Chinese economy and to think deeply about policies and necessary reforms for future growth and development.
Financial Markets And The Real Economy
DOWNLOAD
Author : John H. Cochrane
language : en
Publisher: Now Publishers Inc
Release Date : 2005
Financial Markets And The Real Economy written by John H. Cochrane and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
Financial Markets and the Real Economy reviews the current academic literature on the macroeconomics of finance.