A Macroeconomic Model with Financial Panics

Mark Gertler, Andrea Prestipino and Nobuhiro Kiyotaki
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Nobuhiro Kiyotaki: Princeton University

No 113, 2018 Meeting Papers from Society for Economic Dynamics

Abstract: 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.

Date: 2018
New Economics Papers: this item is included in nep-ban, nep-dge, nep-fdg and nep-mon
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Citations: View citations in EconPapers (23)

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Related works:
Journal Article: A Macroeconomic Model with Financial Panics (2020)
Working Paper: A Macroeconomic Model with Financial Panics (2017)
Working Paper: A Macroeconomic Model with Financial Panics (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed018:113

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