Dynamic Stochastic General Equilibrium Model with Banks and Endogenous Defaults of Firms

Sergey Ivashchenko

Journal of the New Economic Association, 2013, vol. 19, issue 3, 27-50

Abstract: A dynamic stochastic general equilibrium (DSGE) model with endogenous defaults of firms has been developed. Proposed mechanism of defaults is very flexible. It takes into account an amount of assets owned by firms. It suggests that banks receive some payment from firm after default. The model is estimated for the USA and Russia.

Keywords: DSGE; endogenous defaults of firms (search for similar items in EconPapers)
JEL-codes: E32 E43 E44 E47 G21 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2013:i:19:p:27-50

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