About: Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
rdfs:seeAlso	http://journal.fsv.cuni.cz/storage/1249_252-277---marsal.pdf
Description	This survey gives insight into the ongoing research in financial frictions modeling. The recent financial turmoil has fueled interest in operationalizing financial frictions concepts. The rapid growth of the literature on financial frictions motivates this review. The empirical facts that motivate the inclusion of financial frictions are surveyed. This survey provides a description of the basic approaches for introducing financial frictions into dynamic stochastic general equilibrium models. The significance and empirical identification of the financial accelerator effect is then discussed. The role of financial frictions models in CNB monetary and macroprudential policy is described It is concluded that given the heterogeneity of the approaches to financial frictions it is beneficial for the conduct of monetary policy to focus on the development of satellite approaches. DSGE models with financial frictions used to generate stress-testing scenarios could complement current stress-testing practice, but are not able to replace it. This survey gives insight into the ongoing research in financial frictions modeling. The recent financial turmoil has fueled interest in operationalizing financial frictions concepts. The rapid growth of the literature on financial frictions motivates this review. The empirical facts that motivate the inclusion of financial frictions are surveyed. This survey provides a description of the basic approaches for introducing financial frictions into dynamic stochastic general equilibrium models. The significance and empirical identification of the financial accelerator effect is then discussed. The role of financial frictions models in CNB monetary and macroprudential policy is described It is concluded that given the heterogeneity of the approaches to financial frictions it is beneficial for the conduct of monetary policy to focus on the development of satellite approaches. DSGE models with financial frictions used to generate stress-testing scenarios could complement current stress-testing practice, but are not able to replace it. (en)
Title	Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It (en)
skos:prefLabel	Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It (en)
skos:notation	RIV/00216208:11230/12:10124241!RIV13-GA0-11230___
http://linked.open...avai/predkladatel	Fakulta sociálních věd
http://linked.open...avai/riv/aktivita	P
http://linked.open...avai/riv/aktivity	P(GAP402/12/1993)
http://linked.open...iv/cisloPeriodika	3
http://linked.open...vai/riv/dodaniDat	2013
http://linked.open...aciTvurceVysledku	Maršál, Aleš Hlaváček, Michal
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Univerzita Karlova v Praze / Fakulta sociálních věd
http://linked.open...dnocenehoVysledku	172611
http://linked.open...ai/riv/idVysledku	RIV/00216208:11230/12:10124241
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	mechanism; accelerator; transmission; net worth; time-series; agency costs; house prices; credit cycles; business fluctuations; Monetary policy (en)
http://linked.open.../riv/klicoveSlovo	time-series transmission Monetary policy house prices mechanism accelerator agency costs business fluctuations credit cycles net worth
http://linked.open...odStatuVydavatele	CZ - Česká republika
http://linked.open...ontrolniKodProRIV	[3A934036CDCD]
http://linked.open...i/riv/nazevZdroje	Finance a Uver
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	2 (xsd:int)
http://linked.open...cetTvurcuVysledku	3 (xsd:int)
http://linked.open...vavai/riv/projekt	Quantitative Modelling of Monetary and Fiscal Policies after the Crisis
http://linked.open...UplatneniVysledku	2012
http://linked.open...v/svazekPeriodika	62
http://linked.open...iv/tvurceVysledku	Hlaváček, Michal Brázdik, František Maršál, Aleš
http://linked.open...ain/vavai/riv/wos	000306097900003
issn	0015-1920
number of pages	26 (xsd:int)
http://localhost/t...ganizacniJednotka	11230
is http://linked.open...avai/riv/vysledek of	Survey of Research on Financial Sector Modeling within DSGE Models: What Central Banks Can Learn from It

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