| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17339 |
| DP17339 SONOMA: a Small Open ecoNOmy for MAcrofinance | |
| Mariano Massimiliano Croce | |
| 发表日期 | 2022-05-30 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We develop a new small open economy model (SONOMA) in which domestic corporate debt and equities are affected by shocks to both external credit and equity markets. In a novel empirical analysis of several small-but-developed economies, we show that both external debt and equity shocks are important determinants of domestic economic fluctuations, corporate leverage, and net foreign asset positions. SONOMA replicates our empirical facts about asset prices, financial flows, and economic activity. |
| 主题 | Financial Economics ; International Macroeconomics and Finance |
| 关键词 | External positions Credit and equity shocks Asset pricing |
| URL | https://cepr.org/publications/dp17339 |
| 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/546382 |
| 推荐引用方式 GB/T 7714 | Mariano Massimiliano Croce. DP17339 SONOMA: a Small Open ecoNOmy for MAcrofinance. 2022. |
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