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A Macroeconomic Model with Financial Panics

Mark GertlerNobuhiro KiyotakiAndrea Prestipino

出版	National Bureau of Economic Research, 2017
URL	http://books.google.com.hk/books?id=rHSB0AEACAAJ&hl=&source=gbs_api

註釋

This paper incorporates banks and banking panics within a conventional macroeconomic framework to analyze the dynamics of a financial crisis of the kind recently experienced. We are particularly interested in characterizing the sudden and discrete nature of the banking panics as well as the circumstances that makes an economy vulnerable to such panics in some instances but not in others. Having a conventional macroeconomic model allows us to study the channels by which the crisis affects real activity and the effects of policies in containing crises.