Arbeitspapier
GDP Growth, Private Debt and Monetary Policy
Economic research has considered Private Debt a determinant of GDP growth for years. By keeping this perspective, the objective of this work is to understand how much of the GDP response to a monetary shock is due to the variation of private debt. This is the marginal contribution of private debt, which we relate to an increase of the aggregate demand. We study the USA, the UK and Germany in the period 1980q1-2015q4. Our approach is based on the comparison of one baseline structural VAR with one counterfactual for each country. The analysis is developed using the two main constituents of private debt: households and corporations debt.
- Sprache
-
Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 6500
- Klassifikation
-
Wirtschaft
Macroeconomic Analyses of Economic Development
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Economywide Country Studies: U.S.; Canada
Economywide Country Studies: Europe
Financial Markets and the Macroeconomy
- Thema
-
private debt
GDP
monetary policy
structural VAR
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Cafiso, Gianluca
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
09.01.0104, 12:23 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
- Cafiso, Gianluca
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2017
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