Indexed Debt Contracts and the Financial Accelerator

This paper addresses the positive and normative implications of indexing risky debt to observable aggregate conditions. These issues are pursued within the context of the celebrated financial accelerator model of Bernanke, Gertler and Gilchrist (1999). The principal conclusions are that the optimal degree of indexation is significant, and that the business cycle properties of the model are altered under this level of indexation

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Year of publication:	2011
Authors:	Carlstrom, Charles T. ; Fuerst, Timothy S. ; Paustian, Matthias
Publisher:	[S.l.] : SSRN
Subject:	Akzelerator \| Accelerator \| Vertragstheorie \| Contract theory \| Kreditmarkt \| Credit market \| Indexbindung \| Indexation \| Kapitalstruktur \| Capital structure \| Schulden \| Debt

Extent:	1 Online-Ressource (45 p)
Series:	FRB of Cleveland Working Paper ; No. 11-17
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 8, 2011 erstellt
Other identifiers:	10.2139/ssrn.1906761 [DOI]
Classification:	E22 - Capital; Investment (including Inventories); Capacity ; E32 - Business Fluctuations; Cycles ; E44 - Financial Markets and the Macroeconomy
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014178971