Search Results

You are looking at 1 - 10 of 61 items

  • Keyword: Financial Frictions x
Clear All Modify Search
Financial Disruptions and the Cyclical Upgrading of Labor

Financial Disruptions and the Cyclical Upgrading of Labor »

Source: Financial Disruptions and the Cyclical Upgrading of Labor

Volume/Issue: 2017/131

Series: IMF Working Papers

Author(s): Brendan Epstein , Alan Finkelstein Shapiro , and Andrés González Gómez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 June 2017

ISBN: 9781475595864

Keywords: Business cycles, financial frictions, labor search frictions, on-the-job search, Financial Markets and the Macroeconomy

Amid total factor productivity (TFP) shocks job-to-job flows amplify the volatility of unemployment, but the aggregate implications of job-to-job flows amid financial shocks are less understood. To develop such und...

Remittances and Macroeconomic Volatility in African Countries

Remittances and Macroeconomic Volatility in African Countries »

Source: Remittances and Macroeconomic Volatility in African Countries

Volume/Issue: 2015/49

Series: IMF Working Papers

Author(s): Ahmat Jidoud

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 March 2015

ISBN: 9781498300940

Keywords: Macroeconomic Volatility, African Economies, Financial Frictions, consumption, business cycle, economies, supply, Bayesian Analysis, Model Construction and Estimation, Financial Frictions.,

This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Em...

Macroprudential Policy and Labor Market Dynamics in Emerging Economies1

Macroprudential Policy and Labor Market Dynamics in Emerging Economies1 »

Source: Macroprudential Policy and Labor Market Dynamics in Emerging Economies

Volume/Issue: 2015/78

Series: IMF Working Papers

Author(s): Alan Finkelstein Shapiro , and Andres Gonzalez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 2015

ISBN: 9781475563641

Keywords: self-employment, labor search frictions, financial frictions, macroprudential policy, credit, capital, labor market, financing, Government Policy and Regulation, macroprudential policy.,

Emerging economies have high shares of self-employed individuals running owner-only firms who, in contrast to many salaried firms, have little access to formal financing and therefore rely on informal financing (in...

Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area1

Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area1 »

Source: Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area

Volume/Issue: 2013/209

Series: IMF Working Papers

Author(s): Dominic Quint , and Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 October 2013

ISBN: 9781484333693

Keywords: EMU, Basel III, Financial Frictions, standard deviation, interest rates, central bank, real variables, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments

In this paper, we study the optimal mix of monetary and macroprudential policies in an estimated two-country model of the euro area. The model includes real, nominal and financial frictions, and hence both monetary...

Financial Frictions and the Great Productivity Slowdown1

Financial Frictions and the Great Productivity Slowdown1 »

Source: Financial Frictions and the Great Productivity Slowdown

Volume/Issue: 2017/129

Series: IMF Working Papers

Author(s): Romain Duval , Gee Hee Hong , and Yannick Timmer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 May 2017

ISBN: 9781484300701

Keywords: Productivity, Financial Friction, Financial Vulnerability, Global Financial Crisis, Intangible Investment, Endogenous Growth, Financial Markets and the Macroeconomy, General, General

We study the role of financial frictions in explaining the sharp and persistent productivity growth slowdown in advanced economies after the 2008 global financial crisis. Using a rich cross-country, firm-level data...

Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation

Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation »

Source: Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation

Volume/Issue: 2017/211

Series: IMF Working Papers

Author(s): Ambrogio Cesa-Bianchi , and Emilio Fernández Corugedo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 2017

ISBN: 9781484320723

Keywords: Business cycles, Uncertainty shocks, Credit frictions, uncertainty, General, Financial Markets and the Macroeconomy

Are uncertainty shocks a major source of business cycle fluctuations? This paper studies the effect of a mean preserving shock to the variance of aggregate total factor productivity (macro uncertainty) and to the d...

Corporate Investment in Emerging Markets

Corporate Investment in Emerging Markets »

Source: Corporate Investment in Emerging Markets : Financing vs. Real Options Channel

Volume/Issue: 2015/285

Series: IMF Working Papers

Author(s): Delong Li , Nicolas Magud , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2015

ISBN: 9781513539935

Keywords: financial frictions, real options, uncertainty shocks, interest, interest rates, markets, cash flows, General, All Countries,

We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes in global interest rates and volatility. We test for the presence of (i) a financing channel o...

Did the Global Financial Crisis Break the U.S. Phillips Curve?

Did the Global Financial Crisis Break the U.S. Phillips Curve? »

Source: Did the Global Financial Crisis Break the U.S. Phillips Curve?

Volume/Issue: 2016/126

Series: IMF Working Papers

Author(s): Stefan Laseen , and Marzie Taheri Sanjani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 July 2016

ISBN: 9781498348645

Keywords: Phillips curve, Inflation, Unemployment, Financial Frictions, Conditional Forecast, Regime Switching and Bayesian Estimation.

Inflation dynamics, as well as its interaction with unemployment, have been puzzling since the Global Financial Crisis (GFC). In this empirical paper, we use multivariate, possibly time-varying, time-series models...

Banks' Precautionary Capital and Persistent Credit Crunches

Banks' Precautionary Capital and Persistent Credit Crunches »

Source: Banks' Precautionary Capital and Persistent Credit Crunches

Volume/Issue: 2008/248

Series: IMF Working Papers

Author(s): Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2008

ISBN: 9781451871067

Keywords: Financial Frictions, Credit Crunch, Dynamic Programming, bank capital, recapitalization, credit market, stockholders,

Periods of banking distress are often followed by sizable and long-lasting contractions in bank credit. They may be explained by a declined demand by financially impaired borrowers (the conventional financial accel...

Optimal Price Indices for Targeting Inflation Under Incomplete Markets

Optimal Price Indices for Targeting Inflation Under Incomplete Markets »

Source: Optimal Price Indices for Targeting Inflation Under Incomplete Markets

Volume/Issue: 2010/200

Series: IMF Working Papers

Author(s): Rahul Anand , and Eswar Prasad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2010

ISBN: 9781455205301

Keywords: Monetary Policy Framework, Core Inflation, Headline Inflation, Financial Frictions, Liquidity Constraints, aggregate demand, central bank,

In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We develop a two-sector two-good new-Keynesian model to study the...