The role of banks' technology adoption in credit markets during the pandemic

Nicola Branzoli, Edoardo Rainone and Ilaria Supino ()
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Ilaria Supino: Bank of Italy

No 1406, Temi di discussione (Economic working papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: Policy evaluation based on the estimation of dynamic stochastic general equilibrium models with aggregate macroeconomic time series rests on the assumption that a representative agent can be identified, whose behavioural parameters are independent of the policy rules. Building on earlier work by Geweke, the main goal of this paper is to show that the representative agent is in general not structural, in the sense that its estimated behavioural parameters are not policyindependent. The paper identifies two different sources of nonstructurality. The latter is shown to be a fairly general feature of optimizing representative agent rational expectations models estimated on macroeconomic data.

Keywords: bank credit; information technology; firms; COVID-19 pandemic (search for similar items in EconPapers)
JEL-codes: G21 G22 G23 G24 (search for similar items in EconPapers)
Date: 2023-03
New Economics Papers: this item is included in nep-ban, nep-dge and nep-ict
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Journal Article: The role of banks’ technology adoption in credit markets during the pandemic (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wptemi:td_1406_23

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