This paper studies the role of credit supply factors in business cycle fluctuations using a dynamic stochastic general equilibrium (DSGE) model with financial frictions enriched with an imperfectly competitive banking sector. Banks issue collateralized loans to both households and firms, obtain funding via deposits, and accumulate capital out of retained earnings. Loan margins depend on the banks' capital-to-assets ratio and on the degree of interest rate stickiness. Balance-sheet constraints establish a link between the business cycle, which affects bank profits and thus capital, and the supply and cost of loans. The model is estimated with Bayesian techniques using data for the euro area. The analysis delivers the following results. First...
This paper estimates a two-country model with a global bank, using U.S. and euro area (EA) data. Emp...
This paper incorporates a bank into a dynamic stochastic general equilibrium model. The bank collect...
Gertler and Karadi combined financial intermediation and unconventional 'monetary policy' in a DSGE ...
This paper develops a Dynamic Stochastic General Equilibrium (DSGE) model to study how the instabili...
Preliminary draft The current financial crisis highlights the need to develop DSGE models with real-...
We extend the model in Iacoviello (2005) by introducing a stylized banking sector. Loans are supplie...
We extend the model in Iacoviello (2005) by introducing a stylized banking sector. Loans are supplie...
Available online 28 September 2016.In this paper we investigate the effects of uncertainty shocks on...
Gertler and Karadi combined financial intermediation and credit policy in a DSGE framework. We estim...
Gertler and Karadi combined financial intermediation and credit policy in a DSGE framework. We estim...
I examine the impact of credit supply conditions on the labor market via a bank credit channel. Usin...
This paper incorporates a bank into a dynamic stochastic general equilibrium model. The bank collect...
I document the cyclical properties of aggregate balance sheet variables of the U.S. commercial banki...
This paper proposes a new Dynamic Stochastic General Equilibrium (DSGE) model with credit frictions ...
This paper proposes a new Dynamic Stochastic General Equilibrium (DSGE) model with credit frictions ...
This paper estimates a two-country model with a global bank, using U.S. and euro area (EA) data. Emp...
This paper incorporates a bank into a dynamic stochastic general equilibrium model. The bank collect...
Gertler and Karadi combined financial intermediation and unconventional 'monetary policy' in a DSGE ...
This paper develops a Dynamic Stochastic General Equilibrium (DSGE) model to study how the instabili...
Preliminary draft The current financial crisis highlights the need to develop DSGE models with real-...
We extend the model in Iacoviello (2005) by introducing a stylized banking sector. Loans are supplie...
We extend the model in Iacoviello (2005) by introducing a stylized banking sector. Loans are supplie...
Available online 28 September 2016.In this paper we investigate the effects of uncertainty shocks on...
Gertler and Karadi combined financial intermediation and credit policy in a DSGE framework. We estim...
Gertler and Karadi combined financial intermediation and credit policy in a DSGE framework. We estim...
I examine the impact of credit supply conditions on the labor market via a bank credit channel. Usin...
This paper incorporates a bank into a dynamic stochastic general equilibrium model. The bank collect...
I document the cyclical properties of aggregate balance sheet variables of the U.S. commercial banki...
This paper proposes a new Dynamic Stochastic General Equilibrium (DSGE) model with credit frictions ...
This paper proposes a new Dynamic Stochastic General Equilibrium (DSGE) model with credit frictions ...
This paper estimates a two-country model with a global bank, using U.S. and euro area (EA) data. Emp...
This paper incorporates a bank into a dynamic stochastic general equilibrium model. The bank collect...
Gertler and Karadi combined financial intermediation and unconventional 'monetary policy' in a DSGE ...