Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/129962 
Autor:innen: 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Working Papers No. 2015-05
Verlag: 
Banco de México, Ciudad de México
Zusammenfassung: 
I develop a two-country DSGE model with global banks (financial intermediaries in one country lend to banks in the other country). Banks are financially constrained on how much they can borrow from households. The main goal is to obtain a framework that captures the international transmission of a financial crisis through the balance sheet of the global banks, as well as to explain the insurance mechanism of the international asset market. A negative shock to the value of the capital in one country generates a global financial crisis through the international interbank market. In this model, unconventional credit policies help to mitigate the effects of a financial disruption. The policies are carried out by the policy maker of the country directly hit by the shock. Consumers of that country are better off with policy than without it, while consumers from the other country are worse off.
Schlagwörter: 
global financial crisis
global banking
asset prices
financial frictions
JEL: 
G01
E44
F40
G21
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
543.06 kB





Publikationen in EconStor sind urheberrechtlich geschützt.