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Financial Frictions in Macroeconomic Models

Alfred Duncan () and Charles Nolan ()

Studies in Economics from School of Economics, University of Kent

Abstract: In this chapter we: (i) Review the core DSGE workhorse models of financial frictions that existed ahead of the recent financial crisis. (ii) Summarize the recent empirical literature on the history of financial crises. (iii) Summarize the key modelling developments around credit intermediation in DSGE models since the crisis. (iv) Identify gaps in the literature that are especially important for policymakers and modelers.

Keywords: Financial Frictions; Credit Intermediation; Macroeconomics (search for similar items in EconPapers)
JEL-codes: E32 E44 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-fdg, nep-his and nep-mac
Date: 2017-12
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Persistent link: https://EconPapers.repec.org/RePEc:ukc:ukcedp:1719

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