Arbeitspapier
International propagation of financial shocks in a search and matching environment
This paper develops a two-country model in which transmission of financial shocks arises despite a flexible exchange rate regime and substitutable financial assets, contrary to the open-economy literature results under these two conditions. The search and matching approach first accounts for the time needed to restore normal functioning of financial markets following a disruption. It also allows dissociating two types of financial shocks: (i) pure liquidity contractions imply negative co-movements of home and foreign outputs, so that the model nests the standard open macroeconomy results as a particular case; (ii) shocks to banks' capitalization costs in one country do generate international financial contagion.
- ISBN
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978-952-323-135-1
- Sprache
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Englisch
- Erschienen in
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Series: Bank of Finland Research Discussion Papers ; No. 28/2016
- Klassifikation
-
Wirtschaft
Bargaining Theory; Matching Theory
Financial Markets and the Macroeconomy
Money Supply; Credit; Money Multipliers
Open Economy Macroeconomics
International Policy Coordination and Transmission
Financial Crises
International Financial Markets
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Isoré, Marlène
- Ereignis
-
Veröffentlichung
- (wer)
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Bank of Finland
- (wo)
-
Helsinki
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Isoré, Marlène
- Bank of Finland
Entstanden
- 2016
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