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Debt deleveraging and business cycles : an agent-based perspective
Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - 2011
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into … account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the …
Persistent link: https://www.econbiz.de/10009244222
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Debt, deleveraging and business cycles : an agent-based perspective
Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - 2012
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modeling does not take into … account debt as one of the crucial determinants of economic dynamics. The authors' contribution, in this paper, is to …
Persistent link: https://www.econbiz.de/10009567074
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Debt, deleveraging and business cycles: An agent-based perspective
Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-27, pp. 1-49
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modeling does not take into … account debt as one of the crucial determinants of economic dynamics. The authors' contribution, in this paper, is to …
Persistent link: https://www.econbiz.de/10010309605
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Debt deleveraging and business cycles: An agent-based perspective
Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - 2011
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into … account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the …
Persistent link: https://www.econbiz.de/10010305980
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Debt, deleveraging and business cycles: An agent-based perspective
Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - In: Economics - The Open-Access, Open-Assessment E-Journal 6 (2012), pp. 1-49
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modeling does not take into … account debt as one of the crucial determinants of economic dynamics. The authors' contribution, in this paper, is to …
Persistent link: https://www.econbiz.de/10010954755
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Debt deleveraging and business cycles: An agent-based perspective
Raberto, Marco; Teglio, Andrea; Cincotti, Silvano - Institut für Weltwirtschaft (IfW) - 2011
The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into … account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the …
Persistent link: https://www.econbiz.de/10009246869
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Financial stability policies and bank lending : quasi-experimental evidence from Federal Reserve interventions in 1920-21
Rieder, Kilian - 2020
I estimate the comparative causal effects of monetary policy "leaning against the wind" (LAW) and macroprudential policy on bank-level lending and leverage by drawing on a single natural experiment. In 1920, when U.S. monetary policy was still decentralized, four Federal Reserve Banks...
Persistent link: https://www.econbiz.de/10012318753
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Debt and depth of recessions
Park, Donghyun; Shin, Kwanho; Tian, Shu - 2019
This paper empirically investigates the relationship between the speed of buildup of private debt (household and … basis of how quickly their private debt builds up. In addition to output recessions, we look at consumption and investment … corporate debt is especially damaging for emerging markets during financial recessions. A higher ratio of debt to gross domestic …
Persistent link: https://www.econbiz.de/10012020544
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Understanding bank and nonbank credit cycles : a structural exploration
Durdu, Ceyhun Bora; Zhong, Molin - 2019
We explore the structural drivers of bank and nonbank credit cycles using an estimated medium-scale macro model that allows for bank and nonbank financial intermediation. We posit economy-wide aggregate and sectoral disturbances to potentially drive bank and nonbank credit growth. We find that...
Persistent link: https://www.econbiz.de/10012181042
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Collateralization, Leverage, and Stressed Expected Loss
Jondeau, Eric - 2017
We describe a general equilibrium model with a banking system in which the deposit bank collects deposits from households and the merchant bank provides funds to firms. The merchant bank borrows collateralized short-term funds from the deposit bank. In an economic downturn, as the value of...
Persistent link: https://www.econbiz.de/10012970896