Bordo, Michael D.; Dueker, Michael J.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2001
financial distress historically. Bernanke and Gertler (1989) and Bernanke,
Gertler and Gilchrist (1999) argue that aggregate … cycles. The lesson for
monetary policy, Bernanke and Gertler (1999) conclude, is that “central banks should view price … United States and other countries (Friedman and Schwartz, 1963;
Bernanke, 1983; Bernanke and James, 1991). Macroeconomic …