E - Macroeconomics and Monetary Economics
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Banks’ Financial Distress, Lending Supply and Consumption Expenditure
The paper employs a unique identification strategy that links survey data on household consumption expenditure to bank-level data in order to estimate the effects of bank financial distress on consumer credit and consumption expenditures. -
A Policy Model to Analyze Macroprudential Regulations and Monetary Policy
We construct a small-open-economy, New Keynesian dynamic stochastic general-equilibrium model with real-financial linkages to analyze the effects of financial shocks and macroprudential policies on the Canadian economy. Our model has four key features.