全球智库信息集成服务系统(G2TT): Financial Fragility and the Great Depression

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w6094
来源ID	Working Paper 6094
	Financial Fragility and the Great Depression
	Russell Cooper; Dean Corbae
发表日期	1997-07-01
出版年	1997
语种	英语
摘要	We analyze a financial collapse, such as the one which occurred during the Great Depression, from the perspective of a monetary model with multiple equilibria. The economy we consider contains financial fragility due to increasing returns to scale in the intermediation process. Intermediaries provide the link between savers and firms who require working capital for production. Fluctuations in the intermediation process are driven by variations in the confidence agents place in the financial system. Our model matches quite closely the qualitative movements in some financial and real variables (the currency/deposit ratio, ex-post real interest rates, the level of intermediated activity, deflation, employment and production) during the Great Depression period.
主题	Macroeconomics ; Business Cycles ; Money and Interest Rates
URL	https://www.nber.org/papers/w6094
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/563602
推荐引用方式 GB/T 7714	Russell Cooper,Dean Corbae. Financial Fragility and the Great Depression. 1997.