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A Macroeconomic Model with Financial Panics / Mark Gertler, Nobuhiro Kiyotaki, Andrea Prestipino.
- Format:
- Book
- Author/Creator:
- Gertler, Mark.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24126.
- NBER working paper series no. w24126
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- This paper incorporates banks and banking panics within a conventional macroeconomic framework to analyze the dynamics of a financial crisis of the kind recently experienced. We are particularly interested in characterizing the sudden and discrete nature of the banking panics as well as the circumstances that makes an economy vulnerable to such panics in some instances but not in others. Having a conventional macroeconomic model allows us to study the channels by which the crisis affects real activity and the effects of policies in containing crises.
- Notes:
- Print version record
- December 2017.
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