Similar Search Results

External shocks and FX intervention policy in emerging economies

Carrasco, Alex; Florián Hoyle, David - 2021

intervention policy successfully reduces credit, investment, and output volatility, along with substantial welfare gains when …

Persistent link: https://www.econbiz.de/10012616248

The Aino 3.0 model

Silvo, Aino; Verona, Fabio - 2020

, and the presence of credit-constrained households, on the other hand, affect the transmission of key macroeconomic and …

Persistent link: https://www.econbiz.de/10012225376

The impacts of credit standards on aggregate fluctuations in a small open economy : the role of monetary policy

Le, Hai - In: Economies : open access journal 9 (2021) 4, pp. 1-26

Empirical evidence demonstrates that credit standards, including lending margins and collateral requirements, move in a … countercyclical movement in credit standards. Our analysis demonstrates that countercyclical fluctuations in credit standards work as … an amplifier of shocks to the economy. In particular, the existence of endogenous credit standards increases output …

Persistent link: https://www.econbiz.de/10012800343

Countercyclical Capital Regulation in a Small Open Economy DSGE Model

Lozej, Matija - 2018

(CCyB) rules in small open economy estimated medium scale DSGE. We find that rules based on the credit gap create a trade … only on the house price but not the credit gap. Moreover, the optimal simple rule leads to significant welfare gains …

Persistent link: https://www.econbiz.de/10012921203

How Much Do Trade and Financial Linkages Matter for Business Cycle Synchronization in a Small Economy?

García-Herrero, Alicia - 2018

We analyze empirically whether trade and financial linkages between two countries increase the synchronization of their business cycles directly or indirectly. In a system of equations, we use a newly processed database on the bilateral linkages of a small open economy, namely Spain. We prefer...

Persistent link: https://www.econbiz.de/10012921979

A welfare analysis of capital account liberalization

Hagen, Jürgen von (contributor); Zhang, Haiping (contributor) - 2006

We develop a model of a small open economy with credit market frictions of the Holmstrom-Tirole type to analyze the …

Persistent link: https://www.econbiz.de/10003449263

Countercyclical capital regulation in a small open economy DSGE model

Lozej, Matija; Onorante, Luca; Rannenberg, Ansgar - 2018

Persistent link: https://www.econbiz.de/10011820128

Equity Returns and Business Cycles in Small Open Economies

Jahan-Parvar, Mohammad R. - 2013

This is the first paper in the DSGE literature to match key business cycle moments and long-run equity returns in a small open economy with production. These results are achieved by introducing four modifications to a standard real business cycle model: (1) borrowing and lending costs are...

Persistent link: https://www.econbiz.de/10013092427

LTV Ratio Regulations and House Prices in a Small Open Economy with Heterogeneous Households

Lee, Junhee - 2019

Macro-prudential regulations, such as loan-to-value (LTV) ratio ceiling, are implemented in several economies to stabilize the financial market and macro-economy, in addition to conventional stabilization policies. This study constructs a small open economy model with heterogeneous households...

Persistent link: https://www.econbiz.de/10012863884

Financial Liberalization in a Small Open Economy

Hagen, Jürgen von; Zhang, Haiping - 2021

We analyze the long-run and short-run implications of financial liberalization in a small open economy. Our main results are as follows. First, whether financial deregulation in one sector can improve production efficiency may depend on financial regulation in other sectors. Second, financial...

Persistent link: https://www.econbiz.de/10013317493