Macro-prudential Policy in a Fisherian Model of Financial Innovation /
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 mechan...
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| Další autoři: | , |
| Médium: | Časopis |
| Jazyk: | English |
| Vydáno: |
Washington, D.C. :
International Monetary Fund,
2012.
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| Edice: | IMF Working Papers; Working Paper ;
No. 2012/181 |
| On-line přístup: | Full text available on IMF |