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A Macroeconomic Model with Financial Panics

Mark Gertler (), Andrea Prestipino and Nobuhiro Kiyotaki
Additional contact information
Andrea Prestipino: Federal Reserve Board
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.

New Economics Papers: this item is included in nep-ban, nep-dge, nep-fdg and nep-mon
Date: 2018
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https://economicdynamics.org/meetpapers/2018/paper_113.pdf (application/pdf)

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

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