R&D, growth, and macroprudential policy in an economy undergoing boom-bust cycles

Journal of Macroeconomics - Tập 59 - Trang 299-324 - 2019
Claudio Battiati1
1School of European Political Economy, LUISS University, Via di Villa Emiliani 14, Roma, 00197, Italy

Tài liệu tham khảo

Agénor, 2016, Institutional Mandates for Macroeconomic and Financial Stability

Aghion, 2010, Volatility and growth: credit constraints and the composition of investment, J. Monet. Econ., 57, 246, 10.1016/j.jmoneco.2010.02.005

Aghion, 1998

Arezki, 2015, News Shocks in Open Economies: Evidence from Giant Oil Discoveries

Arthur, 1989, Competing technologies, increasing returns, and lock-In by historical events, Econ. J., 99, 116, 10.2307/2234208

Barlevy, 2007, On the cyclicality of research and development, Am. Econ. Rev., 97, 1131, 10.1257/aer.97.4.1131

Benigno, 2013, Commentary on macroprudential policies, Int. J. Central Bank., 9, 287

Bianchi, 2011, Overborrowing, Financial Crises and âMacro-prudentialâ Policy

Bianchi, 2015, Optimal time-consistent macroprudential policy

Borio, 2016, Labour reallocation and productivity dynamics: financial causes, real consequences

Brunnermeier, 2015, Bubbles and central banks: historical perspectives

Cecchetti, 2015, Why does financial sector growth crowd out real economic growth?

Cerutti, 2017, The use and effectiveness of macroprudential policies: new evidence, J. Financ. Stab., 28, 203, 10.1016/j.jfs.2015.10.004

Chirinko, 2011, Do bubbles lead to overinvestment?: A revealed preference approach

Christiano, 2014, Risk shocks, Am. Econ. Rev., 104, 27, 10.1257/aer.104.1.27

Clancy, 2017, Countercyclical capital rules for small open economies, J. Macroecon., 54, 332, 10.1016/j.jmacro.2017.04.009

Comin, 2006, Medium-Term business cycles, Am. Econ. Rev., 96, 523, 10.1257/aer.96.3.523

Darbar, 2015, Experiences with Macroprudential PolicyâFive case studies

Dosi, 2017, Causes and consequences of hysteresis : aggregate demand, productivity and employment

Drehmann, 2011, Anchoring countercyclical capital buffers: the role of credit aggregates, Int. J. Central Bank., 7, 189

Epstein, 1989, Substitution, risk aversion, and the temporal behavior of consumption and asset returns: A Theoretical framework, Econometrica, 57, 937, 10.2307/1913778

Fisher, 2006, The dynamic effects of neutral and investment-Specific technology shocks, J. Polit. Econ., 114, 413, 10.1086/505048

Greenwood, 1988, Investment, capacity utilization, and the real business cycle, Am. Econ. Rev., 78, 402

Greenwood, 1997, Long-Run implications of investment-Specific technological change, Am. Econ. Rev., 87, 342

Greenwood, 2000, The role of investment-specific technological change in the business cycle, Eur. Econ. Rev., 44, 91, 10.1016/S0014-2921(98)00058-0

Guerrieri, 2015, Occbin: a toolkit for solving dynamic models with occasionally binding constraints easily, J. Monet. Econ., 70, 22, 10.1016/j.jmoneco.2014.08.005

Hirano, 2017, Asset bubbles, endogenous growth, and financial frictions, Rev. Econ. Stud., 84, 406, 10.1093/restud/rdw059

Holden, 2018, Reconciling jaimovich-Rebelo preferences, habit in consumption and labor supply, Econ. Lett., 168, 132, 10.1016/j.econlet.2018.04.013

Iacoviello, 2005, House prices, borrowing constraints, and monetary policy in the business cycle, Am. Econ. Rev., 95, 739, 10.1257/0002828054201477

Iacoviello, 2010, Housing market spillovers: evidence from an estimated DSGE model, Am. Econ. J., 2, 125

IMF, 2013, The interaction of monetary and macroprudential policies

Jaimovich, 2009, Can news about the future drive the business cycle?, Am. Econ. Rev., 99, 1097, 10.1257/aer.99.4.1097

Jeanne, 2010, Managing credit booms and busts: apigouvian Taxation approach

Jensen, 2015, Changing Credit Limits, Changing Business Cycles

Jermann, 2012, Macroeconomic effects of financial shocks, Am. Econ. Rev., 102, 238, 10.1257/aer.102.1.238

Jordà, 2015, Leveraged bubbles, J. Monet. Econ., 76, 1, 10.1016/j.jmoneco.2015.08.005

Justiniano, 2015, Household leveraging and deleveraging, Rev. Econ. Dyn., 18, 3, 10.1016/j.red.2014.10.003

Justiniano, 2010, Investment shocks and business cycles, J. Monet. Econ., 57, 132, 10.1016/j.jmoneco.2009.12.008

Kamber, 2015, Financial frictions and the role of investment-specific technology shocks in the business cycle, Econ. Model., 51, 571, 10.1016/j.econmod.2015.09.010

Kiyotaki, 1997, Credit cycles, J. Polit. Econ., 105, 211, 10.1086/262072

Lambertini, 2013, Leaning against boomâbust cycles in credit and housing prices, J. Econ. Dyn. Control, 37, 1500, 10.1016/j.jedc.2013.03.008

Liu, 2013, Land-Price dynamics and macroeconomic fluctuations, Econometrica, 81, 1147, 10.3982/ECTA8994

Mendicino, 2014, House prices, capital inflows and macroprudential policy, J. Bank. Finance, 49, 337, 10.1016/j.jbankfin.2014.06.007

Mendoza, 2012, An Anatomy of Ccedit booms and their demise

Merola, 2015, The role of financial frictions during the crisis: an estimated DSGE model, Econ. Model., 48, 70, 10.1016/j.econmod.2014.10.037

Nuño, 2011, Optimal research and development and the cost of business cycles, J. Econ. Growth, 16, 257, 10.1007/s10887-011-9063-4

Pintus, 2013, Leveraged borrowing and boom-Bust cycles, Rev. Econ. Dyn., 16, 617, 10.1016/j.red.2012.09.006

Quint, 2014, Monetary and macroprudential policy in an estimated DSGE model of the euro area, Int. J. Central Bank., 10, 169

Romer, 1990, Endogenous technological change, J. Polit. Econ., 98, 71, 10.1086/261725

Rubio, 2014, Macroprudential and monetary policies: implications for financial stability and welfare, J. Bank. Finance, 49, 326, 10.1016/j.jbankfin.2014.02.012

Schmitt-Grohe, 2008, What’s news in business cycles

Schmitt-Grohe, 2012, What’S news in business cycles, Econometrica, 80, 2733, 10.3982/ECTA8050

Stiglitz, 1993, Endogenous growth and cycles

Thông tin
Thông tin xuất bản

Journal of Macroeconomics

Tập 59

299-324

Thông tin tác giả