Financial frictions and sources of business cycle /

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Bibliographic Details
Author / Creator:	Sanjani, Marzie Taheri, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2014.
Description:	1 online resource (33 pages) : color illustrations
Language:	English
Series:	IMF working paper ; WP/14/194 IMF working paper ; WP/14/194.
Subject:	Finance -- Econometric models. Financial risk management -- Econometric models. Business cycles -- Econometric models. Business cycles -- Econometric models Finance -- Econometric models
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/14153637

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. European Department, issuing body.
ISBN:	1475585039 9781475585032
Notes:	"October 2014." "European Department." Includes bibliographical references (pages 30-31). Online resource; title from pdf title page (IMF.org Web site, viewed October 29, 2014).
Summary:	This paper estimates a New Keynesian DSGE model with an explicit financial intermediary sector. Having measures of financial stress, such as the spread between lending and borrowing, enables the model to capture the impact of the financial crisis in a more direct and efficient way. The model fits US post-war macroeconomic data well, and shows that financial shocks play a greater role in explaining the volatility of macroeconomic variables than marginal efficiency of investment (MEI) shocks. --Abstract.

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