Credit Risk and the Macroeconomy: Evidence from an Estimated DSGE Model

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How Has the Monetary Transmission Mechanism Evolved Over Time (2010, methodology): “…investment; a leverage rate in the financial accelerator of 2; a Phillips curve slope just below 0.1; a capital share in production of 35 percent; and other parameters (governing utilization and capital returns) similar to values from, for example, Gilchrist, Ortiz, and Zakrajsek (2009).”
How Do Credit Supply Shocks Propagate Internationally? A Gvar Approach (2015, background): “16Helbling et al. (2011) and Gilchrist et al. (2009) emphasize that it is important to consider not only the price, but also the volume of credit in order to identify credit supply shocks.”
Global implications of national unconventional policies (2013, background): “Notice that the empirical evidence seems to attribute most of the variation in credit spreads to shocks specific to the financial sector and unrelated to the rest of the economy (e.g. see Gilchrist et al. (2009)).”