Financial shocks, comovement and credit frictions

被引：2
|
作者：
Finocchiaro, Daria [1 ]
Mendicino, Caterina [2 ]
机构：
[1] Sveriges Riksbank, Monetary Policy Dept, Res, SE-10337 Stockholm, Sweden
[2] European Cent Bank, Directorate Gen Res, Monetary Policy Res, Sonnemannstr 20, D-60314 Frankfurt, Germany
来源：
ECONOMICS LETTERS | 2016年 / 143卷
关键词：
Financial shocks; Borrowing constraints; Asset prices; Comovement;
D O I：
10.1016/j.econlet.2016.03.017
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In models with frictional financial markets, the specification of the borrowing constraint is crucial to generating comovement between macro variables and asset prices after credit shocks. The interaction between financial frictions and labor demand is key to the results. (C) 2016 Elsevier B.V. All rights reserved.
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页码：20 / 23
页数：4
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