Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F12%3A10124241" target="_blank" >RIV/00216208:11230/12:10124241 - isvavai.cz</a>

Result on the web

<a href="http://journal.fsv.cuni.cz/storage/1249_252-277---marsal.pdf" target="_blank" >http://journal.fsv.cuni.cz/storage/1249_252-277---marsal.pdf</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It

Original language description

This survey gives insight into the ongoing research in financial frictions modeling. The recent financial turmoil has fueled interest in operationalizing financial frictions concepts. The rapid growth of the literature on financial frictions motivates this review. The empirical facts that motivate the inclusion of financial frictions are surveyed. This survey provides a description of the basic approaches for introducing financial frictions into dynamic stochastic general equilibrium models. The significance and empirical identification of the financial accelerator effect is then discussed. The role of financial frictions models in CNB monetary and macroprudential policy is described It is concluded that given the heterogeneity of the approaches to financial frictions it is beneficial for the conduct of monetary policy to focus on the development of satellite approaches. DSGE models with financial frictions used to generate stress-testing scenarios could complement current stress-testi

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

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Project

<a href="/en/project/GAP402%2F12%2F1993" target="_blank" >GAP402/12/1993: Quantitative Modelling of Monetary and Fiscal Policies after the Crisis</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2012

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Finance a Uver

ISSN

0015-1920

e-ISSN

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Volume of the periodical

62

Issue of the periodical within the volume

3

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

26

Pages from-to

252-277

UT code for WoS article

000306097900003

EID of the result in the Scopus database

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