A theory of the non-neutrality of money with banking frictions and bank recapitalization (Q1949206)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A theory of the non-neutrality of money with banking frictions and bank recapitalization |
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A theory of the non-neutrality of money with banking frictions and bank recapitalization (English)
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6 May 2013
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The paper develops a general equilibrium framework with banking frictions and two-sided financial contracting. The author analyzes the effects of bank recapitalization, in the form of nominal capital transfers to the banking system, as well as the design of optimal stabilization policy.
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bankruptcy of banks
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banking riskiness shocks
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two-sided debt contract
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unconventional monetary policy
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financial crisis
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