Please use this identifier to cite or link to this item:
https://hdl.handle.net/10419/65798
Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Liu, Chunping | en |
dc.contributor.author | Minford, Patrick | en |
dc.date.accessioned | 2012-09-19 | - |
dc.date.accessioned | 2012-11-02T14:28:51Z | - |
dc.date.available | 2012-11-02T14:28:51Z | - |
dc.date.issued | 2012 | - |
dc.identifier.uri | http://hdl.handle.net/10419/65798 | - |
dc.description.abstract | We examine whether by adding a credit channel to the standard New Keynesian model we can account better for the behaviour of US macroeconomic data up to and including the banking crisis. We use the method of indirect inference which evaluates statistically how far a model is simulated behaviour mimics the behaviour of the data. We find that the model with credit dominates the standard model by a substantial margin. The credit channel is the main contributor to the variation in the output gap during the crisis. | en |
dc.language.iso | eng | en |
dc.publisher | |aCardiff University, Cardiff Business School |cCardiff | en |
dc.relation.ispartofseries | |aCardiff Economics Working Papers |xE2012/22 | en |
dc.subject.jel | C12 | en |
dc.subject.jel | C52 | en |
dc.subject.jel | E12 | en |
dc.subject.jel | G01 | en |
dc.subject.jel | G1 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | financial frictions | en |
dc.subject.keyword | credit channel | en |
dc.subject.keyword | bank crisis | en |
dc.subject.keyword | indirect inference | en |
dc.title | How important is the credit channel? An empirical study of the US banking crisis | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 726104094 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
Files in This Item:
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.