| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8985 |
| DP8985 Global Banks, Financial Shocks and International Business Cycles: Evidence from an Estimated Model | |
| Robert Kollmann | |
| 发表日期 | 2012-05-21 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper estimates a two-country model with a global bank, using US and Euro Area (EA) data, and Bayesian methods. The estimated model matches key US and EA business cycle statistics. Empirically, a model version with a bank capital requirement outperforms a structure without such a constraint. A loan loss originating in one country triggers a global output reduction. Banking shocks matter more for EA macro variables than for US real activity. During the Great Recession (2007-09), banking shocks accounted for about 20% of the fall in US and EA GDP, and for more than half of the fall in EA investment and employment. |
| 主题 | International Macroeconomics |
| 关键词 | Bayesian econometrics Financial crisis Global banking investment Real activity |
| URL | https://cepr.org/publications/dp8985 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537804 |
| 推荐引用方式 GB/T 7714 | Robert Kollmann. DP8985 Global Banks, Financial Shocks and International Business Cycles: Evidence from an Estimated Model. 2012. |
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