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Macroeconomic Effects of Banking Sector Losses Across Structural Models

Luca GuerrieriMatteo IacovielloFrancisco CovasJohn C. Driscoll

其他書名	Paper Produced as Part of the BIS Consultative Council for the Americas Research Network Project "Incorporating Financial Stability Considerations Into Central Bank Policy Models"
出版	Bank for Internat. Settlements, 2015
URL	http://books.google.com.hk/books?id=-v2fzQEACAAJ&hl=&source=gbs_api

註釋The macro spillover effects of capital shortfalls in the financial intermediation sector are compared across five dynamic equilibrium models for policy analysis. Although all the models considered share antecedents and a methodological core, each model emphasizes different transmission channels. This approach delivers "model-based confidence intervals" for the real and financial effects of shocks originating in the financial sector. The range of outcomes predicted by the five models is only slightly narrower than confidence intervals produced by simple vector autoregressions.