| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11133 |
| 来源ID | Working Paper 11133 |
| Sudden Stops and Output Drops | |
| V.V. Chari; Patrick Kehoe; Ellen R. McGrattan | |
| 发表日期 | 2005-02-14 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | In recent financial crises and in recent theoretical studies of them, abrupt declines in capital inflows, or sudden stops, have been linked with large drops in output. Do sudden stops cause output drops? No, according to a standard equilibrium model in which sudden stops are generated by an abrupt tightening of a country's collateral constraint on foreign borrowing. In this model, in fact, sudden stops lead to output increases, not decreases. An examination of the quantitative effects of a well-known sudden stop, in Mexico in the mid-1990s, confirms that a drop in output accompanying a sudden stop cannot be accounted for by the sudden stop alone. To generate an output drop during a financial crisis, as other studies have done, the model must include other economic frictions which have negative effects on output large enough to overwhelm the positive effect of the sudden stop. |
| 主题 | International Economics ; International Macroeconomics ; Macroeconomics ; Business Cycles |
| URL | https://www.nber.org/papers/w11133 |
| 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/568770 |
| 推荐引用方式 GB/T 7714 | V.V. Chari,Patrick Kehoe,Ellen R. McGrattan. Sudden Stops and Output Drops. 2005. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w11133.pdf（177KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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