Incorporating financial frictions into new-generation macro models

Giovanni Lombardo and Peter McAdam ()

Research Bulletin, 2010, vol. 9, 13-16

Abstract: Recent work extends the New Area Wide Model to include “fi nancial frictions” in housing and investment. This article describes the model, its data and simulation properties and shows that extending the model in this fashion offers additional perspectives of the reaction of the model to shocks. JEL Classification: E0

Keywords: financial frictions; macro models (search for similar items in EconPapers)
Date: 2010-03
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbrbu:2010:0009:4

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