Essays about: "financial frictions"

Showing result 1 - 5 of 7 essays containing the words financial frictions.

  1. 1. Optimal Monetary Policy, Macroprudential Instruments, and the Credit Cycle

    University essay from Uppsala universitet/Nationalekonomiska institutionen

    Author : Camilo Marchesini; [2019]
    Keywords : Monetary policy; macroprudential regulation; banking; financial frictions;

    Abstract : I study optimal monetary and macroprudential policies in a New Keynesian DSGE framework with leverageconstrainedbanks. In particular, I assess the desirability of alternative operational policy rules when theeconomy is hit by mortgage default shocks and show that their implications for inflation dynamics and policytrade-offs depend on whether the shocks originate in the household sector or in the entrepreneurial sector ofthe economy. READ MORE

  2. 2. Estimating the Impact of Introducing the e-krona in the Swedish Economy

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Alejandro Moreno Puertas; [2019]
    Keywords : e-Krona; DSGE; Financial frictions; Pass-through mechanism; Central Bank Digital Currencies;

    Abstract : This MSc Thesis analyzes the impact of introducing the e-krona in Sweden using a Dynamic Stochastic General Equilibrium (DSGE) model. The model includes the possibility for (i) patient households to convert their deposits into the e-krona and (ii) wholesale banks to borrow money from the Central Bank through a market funding mechanism. READ MORE

  3. 3. Systemic risk, countercyclical capital, and stress tests: Macroprudential policy in a macroeconomic model

    University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomi

    Author : Julien Weber; [2018]
    Keywords : Countercylical capital requirements; DSGE modelling; Macroprudential policy; Stress tests; Systemic risk;

    Abstract : The financial crisis has shown that better macroprudential regulation is needed to counteract systemic risk in the financial system. In addition to the Basel III requirements, macroprudential stress tests are being developed to address system-wide imbalances. READ MORE

  4. 4. Bank Capital in DSGE Models

    University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomi

    Author : Valentin Schubert; Robin Tietz; [2016]
    Keywords : banks; bank capital; financial intermediation; leverage;

    Abstract : This paper analyzes the implications of three different modeling approaches to bank capital for business cycle dynamics in a DSGE model with various real and financial frictions. Two approaches feature exogenous capital requirements but differ in their mathematical form. READ MORE

  5. 5. The Effect of Founding Family Ownership on Financial Constraints

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Philip Ahlgren; Daniel Nejman; [2015]
    Keywords : Family Firms; Financial Constraints; Information Asymmetries; Agency Costs;

    Abstract : This paper studies the effect of founding family ownership on financial constraints. We hypothesize that capital markets frictions arising from informational asymmetries and agency conflicts are mitigated by the presence of founding family shareholders, thus rendering lower financial constraints. READ MORE