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Macroprudential and Monetary Policy Interactions in a DSGE Model for Sweden

Macroprudential and Monetary Policy Interactions in a DSGE Model for Sweden »

Source: Macroprudential and Monetary Policy Interactions in a DSGE Model for Sweden

Volume/Issue: 2016/74

Series: IMF Working Papers

Author(s): Jiaqian Chen , and Francesco Columba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2016

ISBN: 9781475546545

Keywords: Macroprudential Policies; Monetary Policy; Collateral Constraints

We analyse the effects of macroprudential and monetary policies and their interactions using an estimated dynamic stochastic general equilibrium (DSGE) model tailored to Sweden. Households face a ceiling on their l...

Financial Amplification of Labor Supply Shocks*

Financial Amplification of Labor Supply Shocks* »

Source: Financial Amplification of Labor Supply Shocks

Volume/Issue: 2020/189

Series: IMF Working Papers

Author(s): Nina Biljanovska , and Alexandros Vardoulakis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2020

ISBN: 9781513557311

Keywords: Collateral constraints, COVID-19, pandemic, ?nancial ampli?cation

We study how financial frictions amplify labor supply shocks in a macroeconomic model with occasionally binding financing constraints. Workers supply labor to entrepreneurs who borrow to purchase factors of product...

The Volatility Costs of Procyclical Lending Standards

The Volatility Costs of Procyclical Lending Standards »

Source: The Volatility Costs of Procyclical Lending Standards : An Assessment Using a Dsge Model

Volume/Issue: 2009/35

Series: IMF Working Papers

Author(s): Silvia Sgherri , and Bertrand Gruss

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451871821

Keywords: Credit Cycles, Collateral Constraints, DSGE Models., standards, calibration, equation, correlation, regulation, Dsge Models,

The ongoing financial turmoil has triggered a lively debate on ways of containing systemic risk and lessening the likelihood of boom-and-bust episodes in credit markets. Particularly, it has been argued that bankin...

Emerging Markets Crisis

Emerging Markets Crisis »

Source: Emerging Markets Crisis : An Asset Markets Perspective

Volume/Issue: 1999/129

Series: IMF Working Papers

Author(s): Arvind Krishnamurthy , and Ricardo Caballero

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1999

ISBN: 9781451855098

Keywords: Capital flows, fire sales, financial constraints, contractual and corporate governance problems, balance sheets, wasted collateral, domestic and foreign spreads, excessive leverage, collateral underprovision, real depreciation

The entire difference between a mild downturn and a devastating crisis is the occurrence of sharp fire sales of domestic assets and possibly foreign exchange and the ensuing collapse in the balance sheets of both t...

Optimal Macroprudential Policy and Asset Price Bubbles

Optimal Macroprudential Policy and Asset Price Bubbles »

Source: Optimal Macroprudential Policy and Asset Price Bubbles

Volume/Issue: 2019/184

Series: IMF Working Papers

Author(s): Nina Biljanovska , Lucyna Gornicka , and Alexandros Vardoulakis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 August 2019

ISBN: 9781513511078

Keywords: Economic conditions, Financial crises, Demand, Economic stabilization, Price indexes, Collateral constraints, rational bubbles, macroprudential regulation, optimal policy, WP

An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytic...

Informality, Frictions, and Macroprudential Policy

Informality, Frictions, and Macroprudential Policy »

Source: Informality, Frictions, and Macroprudential Policy

Volume/Issue: 2019/255

Series: IMF Working Papers

Author(s): Moez Ben Hassine , and Nooman Rebei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 November 2019

ISBN: 9781498320856

Keywords: Real sector, Financial crises, Price indexes, Business cycles, Unemployment, Macroprudential Policies, Monetary Policy, Collateral Constraints, Informal Sector, Developing Market.

We analyze the effects of macroprudential policies through the lens of an estimated dynamic stochastic general equilibrium (DSGE) model tailored to developing markets. In particular, we explicitly introduce informa...

The Costs of Macroprudential Deleveraging in a Liquidity Trap*

The Costs of Macroprudential Deleveraging in a Liquidity Trap* »

Source: The Costs of Macroprudential Deleveraging in a Liquidity Trap

Volume/Issue: 2020/89

Series: IMF Working Papers

Author(s): Jiaqian Chen , Daria Finocchiaro , Jesper Lindé , and Karl Walentin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 June 2020

ISBN: 9781513546803

Keywords: Economic conditions, Financial crises, Economic policy, Price indexes, Real interest rates, Household debt, Zero lower bound, New Keynesian model, Collateral and borrowing constraints, Mortgage interest deductibility

We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing transaction costs...

Macroprudential and Monetary Policy Interactions in a DSGE Model for Sweden

Macroprudential and Monetary Policy Interactions in a DSGE Model for Sweden »

Volume/Issue: 2016/74

Series: IMF Working Papers

Author(s): Jiaqian Chen , and Francesco Columba

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 March 2016

DOI: http://dx.doi.org/10.5089/9781475546545.001

ISBN: 9781475546545

Keywords: Macroprudential Policies; Monetary Policy; Collateral Constraints

We analyse the effects of macroprudential and monetary policies and their interactions using an estimated dynamic stochastic general equilibrium (DSGE) model tailored to Sweden. Households face a ceiling on their l...

Financial Amplification of Labor Supply Shocks

Financial Amplification of Labor Supply Shocks »

Volume/Issue: 2020/189

Series: IMF Working Papers

Author(s): Nina Biljanovska , and Alexandros Vardoulakis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2020

DOI: http://dx.doi.org/10.5089/9781513557311.001

ISBN: 9781513557311

Keywords: Collateral constraints, COVID-19, pandemic, ?nancial ampli?cation

We study how financial frictions amplify labor supply shocks in a macroeconomic model with occasionally binding financing constraints. Workers supply labor to entrepreneurs who borrow to purchase factors of product...

The Volatility Costs of Procyclical Lending Standards
			: An Assessment Using a Dsge Model

The Volatility Costs of Procyclical Lending Standards : An Assessment Using a Dsge Model »

Volume/Issue: 2009/35

Series: IMF Working Papers

Author(s): Silvia Sgherri , and Bertrand Gruss

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

DOI: http://dx.doi.org/10.5089/9781451871821.001

ISBN: 9781451871821

Keywords: Credit Cycles, Collateral Constraints, DSGE Models., standards, calibration, equation, correlation, regulation, Dsge Models,

The ongoing financial turmoil has triggered a lively debate on ways of containing systemic risk and lessening the likelihood of boom-and-bust episodes in credit markets. Particularly, it has been argued that bankin...