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Financial Frictions in Data: Evidence and Impact
By:Marzie Taheri Sanjani
Published on 2014-12-24 by International Monetary Fund

This paper investigates financial frictions in US postwar data to understand the interaction between the real business cycle and the credit market. A Bayesian estimation technique is used to estimate a large Vector Autoregression and New Keynesian models demonstrating how financial shocks can have a large and sluggish impact on the economy. I identify the default risk and the maturity mismatch channels of monetary policy transmission; I further employ a generalized-IRF to establish countercyclicality of risk spreads; and I show that the maturity mismatch shocks produce a stronger impact than the default risk shocks.

This Book was ranked at 9 by Google Books for keyword Credit channel.

Book ID of Financial Frictions in Data: Evidence and Impact's Books is XdLFBgAAQBAJ, Book which was written byMarzie Taheri Sanjanihave ETAG "+Oc3Uf65bhQ"

Book which was published by International Monetary Fund since 2014-12-24 have ISBNs, ISBN 13 Code is 9781498387460 and ISBN 10 Code is 1498387462

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Book which have "33 Pages" is Printed at BOOK under CategoryBusiness and Economics

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