منابع مشابه
Financial Market Imperfections and Business Cycles
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive o...
متن کاملBanks’ Financial Structure and Business Cycles
A puzzling fact in macroeconomics is that small and transitory shocks seem to be followed by large and persistent fluctuations in macroeconomic variables. Theoretical models explaining this empirical fact focus on the borrower but most of them neglect to model the bank. This paper proposes a framework in which changes in the financial condition of banks can have persistent aggregate consequence...
متن کاملInternational Business Cycles and Financial Frictions
Bank of Canada working papers are theoretical or empirical works-in-progress on subjects in economics and finance. The views expressed in this paper are those of the author. No responsibility for them should be attributed to the Bank of Canada. Abstract This paper builds a two-country DSGE model to study the quantitative impact of financial frictions on business cycle co-movements when investor...
متن کاملThe Role of Financial Frictions in Iran’s Business Cycles: A DSGE Approach
B efore the incidence of the financial crisis in 2008, the financial sector was ignored in the most of business cycles analyses. It was assumed that the financial sector played no independent role in describing business cycle fluctuations and followed the real part of the economy. In recent years, modeling financial frictions have been much considered in business cycles literature. T...
متن کاملNews shocks, expectation driven business cycles and financial market frictions
This paper explores the booms and busts induced by news shocks in a model economy with financial market frictions. Firms can accumulate capital through either purchase of the existing capital or producing new capital by themselves. Firms need to borrow from financial intermediaries to finance their purchases of capital. With the presence of financial market frictions, firms have to pay an exter...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2015
ISSN: 1094-2025
DOI: 10.1016/j.red.2014.09.003