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Financial Frictions in Macroeconomic Models

Duncan, Alfred and Nolan, Charles (2018) Financial Frictions in Macroeconomic Models. In: Oxford Research Encyclopedia of Economics and Finance. Oxford Research Encyclopedias . Oxford University Press. (doi:10.1093/acrefore/9780190625979.013.168) (Access to this publication is currently restricted. You may be able to access a copy if URLs are provided) (KAR id:66714)

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Abstract

In recent decades, macroeconomic researchers have looked to incorporate financial

intermediaries explicitly into business-cycle models. These modeling developments have

helped us to understand the role of the financial sector in the transmission of policy and

external shocks into macroeconomic dynamics. They also have helped us to understand

better the consequences of financial instability for the macroeconomy. Large gaps remain

in our knowledge of the interactions between the financial sector and macroeconomic

outcomes. Specifically, the effects of financial stability and macroprudential policies are

not well understood.

Item Type: Book section
DOI/Identification number: 10.1093/acrefore/9780190625979.013.168
Uncontrolled keywords: financial frictions, financial crises, credit intermediation, macroeconomics, business cycles
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Divisions: Divisions > Division of Human and Social Sciences > School of Economics
Depositing User: Alfred Duncan
Date Deposited: 21 May 2018 09:46 UTC
Last Modified: 16 Feb 2021 13:54 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/66714 (The current URI for this page, for reference purposes)

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