Analysis of monetary policy and financial stability : a new paradigm

Charles A. E. Goodhart ; Carolina Osorio; Dimitrios P. Tsomocos

This paper introduces agent heterogeneity, liquidity, and endogenous default to a DSGE framework. Our model allows for a comprehensive assessment of regulatory and monetary policy, as well as welfare analysis in the different sectors of the economy. Due to liquidity and endogenous default, the transmission mechanism of shocks is well defined, and their short to medium run effects on financial stability are properly captured. -- general equilibrium ; financial fragility ; monetary policy ; regulation

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Year of publication:	2009
Authors:	Goodhart, Charles A. E. ; Osorio, Carolina ; Tsomocos, Dimitrios P.
Publisher:	München : CESifo
Subject:	Finanzkrise \| Financial crisis \| Geldpolitik \| Monetary policy \| Geldtheorie \| Monetary theory \| Allgemeines Gleichgewicht \| General equilibrium \| Dynamisches Gleichgewicht \| Dynamic equilibrium \| Stochastischer Prozess \| Stochastic process \| Liquidität \| Liquidity \| Insolvenz \| Insolvency \| Bankenregulierung \| Bank regulation \| Theorie \| Theory

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Extent:	Online-Ressource ( 33 S.) graph. Darst.
Series:	CESifo working papers. - München : [Verlag nicht ermittelbar], ISSN 2364-1428, ZDB-ID 2065232-X. - Vol. 2885
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Parallel als Druckausg. erschienen
Other identifiers:	hdl:10419/30638 [Handle]
Classification:	D50 - General Equilibrium and Disequilibrium. General ; E43 - Determination of Interest Rates; Term Structure Interest Rates ; E44 - Financial Markets and the Macroeconomy ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General ; G01 - Financial Crises ; G20 - Financial Institutions and Services. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003923247