Benigno, Gianluca; Chen, Huigang; Otrok, Christopher; … - In: Journal of International Economics 89 (2013) 2, pp. 453-470
financial crisis can arise endogenously and alternate with normal time periods. In this class of models, the scope for policy … financial crisis. While our findings call for both ex-ante and ex-post policy interventions relative to the crisis event, our … in crisis and normal times is crucial for the normative implications of this class of models. In contrast to the related …