G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11410
DP11410 Assessing the Non-Linear Effects of Credit Market Shocks
Régis Barnichon; Christian Matthes
发表日期2016-07-23
出版年2016
语种英语
摘要Can financial market disruptions have non-linear dynamic effects on economic activity? Using a novel econometric technique, we assess whether credit shocks have non-linear effects, notably asymmetry and state-dependence, that have been predicted theoretically but never considered empirically. We obtain two main results. First, negative shocks to credit supply have large and persistent effects on output, but positive shocks have no significant effect. Second, credit supply shocks have larger and more persistent effects in periods of weak economic growth. These findings are consistent with the presence of occasionally binding financial constraints and the recent theoretical predictions of He and Krishnamurthy (2013) and Brunnermeier and Sannikov (2014).
主题Monetary Economics and Fluctuations
URLhttps://cepr.org/publications/dp11410
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/540224
推荐引用方式
GB/T 7714
Régis Barnichon,Christian Matthes. DP11410 Assessing the Non-Linear Effects of Credit Market Shocks. 2016.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Régis Barnichon]的文章
[Christian Matthes]的文章
百度学术
百度学术中相似的文章
[Régis Barnichon]的文章
[Christian Matthes]的文章
必应学术
必应学术中相似的文章
[Régis Barnichon]的文章
[Christian Matthes]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。