Financial Frictions in Data: Evidence and Impact

Financial Frictions in Data: Evidence and Impact
This paper investigates financial frictions in US postwar data to understand the interactionbetween the real business cycle and the credit market. A Bayesian estimation technique isused to estimate a large Vector Autoregression and New Keynesian models demonstratinghow financial shocks can have a large and sluggish impact on the economy. I... READ MORE...

Publication date: December 2014
ISBN 9781484336557
$18.00

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