The Financial Accelerator in a Quantitative Business Cycle Framework

This paper develops a dynamic general equilibrium model that is intended to help clarify the role of credit market frictions in business fluctuations, from both a qualitative and a quantitative standpoint. The model is a synthesis of the leading approaches in the literature. In particular, the framework exhibits a "financial accelerator", in that endogenous developments in credit markets work to amplify and propagate shocks to the macroeconomy.

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Year of publication:	1998
Authors:	Bernanke, B. ; Gertler, M. ; Gilchrist, S.
Institutions:	C.V. Starr Center for Applied Economics, Department of Economics
Subject:	BUSINESS CYCLES \| MONETARY POLICY

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	66 pages
Classification:	E30 - Prices, Business Fluctuations, and Cycles. General ; E44 - Financial Markets and the Macroeconomy ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005264309