Blar i Norges Banks vitenarkiv på emneord "financial frictions"

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    • Fiscal Stimulus in a Credit Crunch: The Role of Wage Rigidity 

      Furlanetto, Francesco (Working Papers;8/2009, Working paper, 2009)
      In this paper we study the impact of an expansion in public spending in a credit constrained economy with sticky wages. The flexible wage version of the model implies strong expansionary effects on output and consumption ...

    • Output Gap, Monetary Policy Trade-Offs and Financial Frictions 

      Furlanetto, Francesco; Gelain, Paolo; Sanjani, Marzie Taheri (Working Papers;8/2017, Working paper, 2017)
      This paper investigates how the presence of financial frictions and financial shocks changes the definition and the estimated dynamics of the output gap in a New Keynesian model. Financial shocks absorb explanatory power ...