Financial Heterogeneity and Monetary Union
Financial heterogeneity and monetary union - ScienceDirect.com
We develop a monetary union model with customer markets and financial frictions. Financial shocks cause periphery firms to raise markups to stabilize cashflows.
Financial heterogeneity and monetary union
We explain the slow adjustment in the price levels between the core and periphery by introducing financial frictions and customer markets ...
Financial heterogeneity and monetary union - ScienceDirect.com
This paper introduces financial frictions and customer markets into the conventional two-country open-economy framework.
Please cite this paper as: Gilchrist, Simon, Raphael Schoenle, Jae Sim, and Egon Zakrajšek (2018). “Fi- nancial Heterogeneity and Monetary Union,” Finance and ...
The Fed - Financial Heterogeneity and Monetary Union
Abstract: We analyze the economic consequences of forming a monetary union among countries with varying degrees of financial distortions, which ...
Financial Heterogeneity and Monetary Union - European Central Bank
Financial Heterogeneity and Monetary Union. ∗. Simon Gilchrist†. Raphael Schoenle ‡. Jae Sim§. Egon Zakrajšek¶. July 2015. Abstract. We analyze the business ...
Financial Heterogeneity and Monetary Union - Brandeis
Financial Heterogeneity and Monetary Union. Simon Gilchrist∗. Raphael Schoenle†. Jae Sim‡. Egon Zakrajšek§. December 30, 2022. Abstract. During the 2010–12 ...
Financial Heterogeneity and Monetary. Union. Page 2. Why diverging recovery in euro area? 2. • A common narrative: – Excessive borrowing fueled unstainable ...
Financial Heterogeneity and Monetary Union - IDEAS/RePEc
Thus, a monetary union among countries with heterogeneous degrees of financial frictions may create a tendency toward internal devaluation for core countries ...
FINANCIAL HETEROGENEITY AND MONETARY UNION
Study the consequences of forming a currency union among countries with heterogeneous financial conditions. Price War. During the periphery's liquidity crisis, ...
Financial Heterogeneity and Monetary Union - LSE
Financial Heterogeneity and Monetary Union. Simon Gilchrist∗. Raphael Schoenle†. Jae Sim‡. Egon Zakrajšek§. April 4, 2018. Abstract. We analyze the economic ...
This paper addresses the issue of macroeconomic policies in a financially heterogeneous monetary union. Optimized policy rules are used, under various budgetary ...
Financial heterogeneity and monetary union - IDEAS/RePEc
In a monetary union model, where financial frictions interact with the firms' pricing decisions because of customer-market considerations, firms in the ...
Financial Heterogeneity in a Monetary Union - jstor
This paper addresses the issue of macroeconomic policies in a financially heterogeneous monetary union. Optimized policy rules are used, ...
Financial Heterogeneity and Monetary Union. S. Gilchrist1. R. Schoenle2. J. Sim3. E. Zakrajšek3. 1New York University and NBER. 2Brandeis ...
Financial Heterogeneity in a Monetary Union
Optimized policy rules are used, under various budgetary policy scenarios, in a two-country DSGE model. The results indicate that a Euro-wide monetary policy ...
Financial Heterogeneity and Monetary Union. S. Gilchrist1. R. Schoenle2. J. Sim3. E. Zakrajšek3. 1New York University and NBER. 2Brandeis ...
Assessing the Effects of Financial Heterogeneity in a Monetary Union
... financial heterogeneity can accentuate the cyclical divergences inside a monetary union that faces technological, monetary and financial shocks. To this ...
Financial Heterogeneity and Monetary Union. S. Gilchrist1. R. Schoenle2. J. Sim3. E. Zakrajšek3. 1Boston University and NBER. 2Brandeis ...
Financial Heterogeneity and Monetary Union | Request PDF
We analyze the economic consequences of forming a monetary union among countries with varying degrees of financial distortions, which interact with the firms' ...