Macro-prudential Policy in a Fisherian Model of Financial Innovation

Working Paper No. 12/181

The interaction between credit frictions, financial innovation, and a switch from optimistic to pessimistic beliefs played a central role in the 2008 financial crisis. This paper develops a quantitative general equilibrium framework in which this interaction drives the financial amplification mechanism to study the effects of macro-prudential... READ MORE...

Publication date: July 2012
ISBN 9781475505290

Add to Cart by clicking price of the language and format you'd like to purchase

Available Languages and Formats


Publication date: July 2012