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1.
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Following the seminal contribution of Kiyotaki and Moore (1997), the role of collateral constraints for business cycle fluctuations has been highlighted by several author[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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2.
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This study evaluates the information content of 25 measures of credit with respect to three macroeconomic variables—nominal spending, real spending and prices. Initially,[...]
1988 | Text | Technical Report - Rapport technique |
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3.
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The author proposes a micro-founded framework that incorporates an active banking sector into a dynamic stochastic general-equilibrium model with a financial accelerator.[...]
2010 | Text | Staff Working Paper - Document de travail du personnel |
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4.
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This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and volatility, and to study the impact of credit shocks on b[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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5.
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The author examines the role of collateral in an environment where lenders and borrowers possess identical information and similar beliefs about its future value. Using o[...]
2003 | Text | Staff Working Paper - Document de travail du personnel |
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6.
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Using Bayesian methods, we estimate a small open economy model in which consumers face limits to credit determined by the value of their housing stock. The purpose of thi[...]
2009 | Text | Staff Working Paper - Document de travail du personnel |
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7.
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Historical narratives typically associate financial crises with credit expansions and asset price misalignments. The question is whether some combination of measures of c[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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8.
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This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rise[...]
2009 | Text | Staff Working Paper - Document de travail du personnel |
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9.
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Of particular concern to monetary policy-makers is the considerable unreliability of financial variables for predicting GDP growth and inflation. As Stock and Watson (200[...]
2005 | Text | Staff Working Paper - Document de travail du personnel |
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10.
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This paper examines the contributions of population aging, mortgage innovation and historically low interest rates to the sharp rise in U.S. house prices and mortgage deb[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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