The Financial Accelerator in a Quantitative Business Cycle Framework
Mark Gertler () and
Simon Gilchrist ()
Working Papers from C.V. Starr Center for Applied Economics, New York University
This paper develops a dynamic general equilibrium model that is intended to help clarify the role of credit market frictions in business fluctuations, from both a qualitative and a quantitative standpoint. The model is a synthesis of the leading approaches in the literature. In particular, the framework exhibits a "financial accelerator", in that endogenous developments in credit markets work to amplify and propagate shocks to the macroeconomy.
Keywords: BUSINESS CYCLES; MONETARY POLICY (search for similar items in EconPapers)
JEL-codes: E30 E44 E50 (search for similar items in EconPapers)
Pages: 66 pages
References: Add references at CitEc
Citations: View citations in EconPapers (298) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Chapter: The financial accelerator in a quantitative business cycle framework (1999)
Working Paper: The Financial Accelerator in a Quantitative Business Cycle Framework (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cvs:starer:98-03
Ordering information: This working paper can be ordered from
C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012
Access Statistics for this paper
More papers in Working Papers from C.V. Starr Center for Applied Economics, New York University C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012. Contact information at EDIRC.
Bibliographic data for series maintained by Anne Stubing ( this e-mail address is bad, please contact ).