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gravity-gravitas-comment.pdf
... non-linear system of price indexes. the analytical solution to the system of price indexes put forward in this note enables four improvements over a-vw's nlp approach. first, it ... , the six major puzzles in international macroeconomics is there a common cause?, in b.s. bernanke and k. rogoff, eds., nber macroeconomics annual 2000, pp. 339 390, mit press, cambridge, ma ...
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linkages between financial and real sector economy pdf
... overview is written in response to the aftermath of the financial crisis 2007 2009, we put emphasis on economic mechanisms that are likely to be important in times of financial stress ... financial accelerator was first introduced into dsge models in bernanke et al. (1999) although by deviating slightly from the original modelling in bernanke et al. (1996) and kiyotaki and moore (1997) which ...
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Microsoft Word - cpbdoc210.doc
... sparked off by a deflating bubble in the us housing market, the financial crisis has put the spotlight firmly on systemic risk. when systemic risk materialized, initially localized problems spiralled out ... bear stearns and the insurer aig. for example, the chairman of the federal reserve, ben bernanke, declared that global banks and investment banks would have suffered losses on loans and lines ...
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