| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15436 |
| DP15436 The Financial (In)Stability Real Interest Rate, R** | |
| Gianluca Benigno; Ozge Akinci Emekli; Marco Del Negro; Albert Queralto | |
| 发表日期 | 2020-11-08 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We introduce the concept of financial stability real interest rate using a macroeconomic banking model with an occasionally binding financing constraint as in Gertler and Kiyotaki (2010). The financial stability interest rate, r**, is the threshold interest rate that triggers the constraint being binding. Increasing imbalances in the financial sector measured by an increase in leverage are accompanied by a lower threshold that could trigger financial instability events. We also construct a theoretical implied financial condition index and show how it is related to the gap between the natural and financial stability interest rates. |
| 主题 | Financial Economics ; International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| 关键词 | R** Financial crises Occasionally binding credit constraint Financial amplification |
| URL | https://cepr.org/publications/dp15436 |
| 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/544428 |
| 推荐引用方式 GB/T 7714 | Gianluca Benigno,Ozge Akinci Emekli,Marco Del Negro,et al. DP15436 The Financial (In)Stability Real Interest Rate, R**. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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