EconPapers    
Economics at your fingertips  
 

A Macroeconomic Model with Financial Panics

Mark Gertler (), Nobuhiro Kiyotaki and Andrea Prestipino

No 1219, International Finance Discussion Papers from Board of Governors of the Federal Reserve System (U.S.)

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.

Keywords: Bank Runs; Financial Crisis; New Keynesian DSGE (search for similar items in EconPapers)
JEL-codes: E23 E32 E44 G01 G21 G33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ban, nep-dge, nep-fdg, nep-mac and nep-mon
Date: 2017-12-15
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed

Downloads: (external link)
https://www.federalreserve.gov/econres/ifdp/files/ifdp1219.pdf (application/pdf)

Related works:
Working Paper: A Macroeconomic Model with Financial Panics (2018) Downloads
Working Paper: A Macroeconomic Model with Financial Panics (2017) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgif:1219

Ordering information: This working paper can be ordered from
http://www.federalreserve.gov/pubs/ifdp/order.htm

DOI: 10.17016/IFDP.2017.1219

Access Statistics for this paper

More papers in International Finance Discussion Papers from Board of Governors of the Federal Reserve System (U.S.) Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ().

 
Page updated 2019-08-15
Handle: RePEc:fip:fedgif:1219