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...

Ausführliche Beschreibung

Bibliographische Detailangaben
1. Verfasser: Bianchi, Javier
Weitere Verfasser: Boz, Emine, Mendoza, Enrique
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2012.
Schriftenreihe:IMF Working Papers; Working Paper ; No. 2012/181
Online Zugang:Full text available on IMF