A Model to Analyse Financial Fragility: Applications

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Towards a measure of financial fragility (2006, background): “19In the general version of the model, an increase in default and a decrease in profitability is always associated with a reduction in agents’ welfare (see Goodhart, Sunirand and Tsomocos (2004) .”
Performance and Merton-type default risk of listed banks in the EU: A panel VAR approach (2009, background): “In particular, Goodhart et al. (2004) argue that financial stability is endogenously determined together with economic efficiency within a general equilibrium model, whilst they point to the existence of a trade-off between them.”
Monetary policy and financial (in)stability: An integrated micro-macro approach (2008, unknown): “Goodhart et al. (2006) is a very important contribution toward this goal. However, a consensus view on these interactions has yet to emerge as pointed out by, for instance, the ECB (2005). The contemporaneous and lagged intricate relation between the real economy and the banking sector is hardly to ”
A risk assessment model for banks (2005, background): “As in Goodhart et al. (2003, 2004), our money demand function manifests the standard Hicksian elements whereby it responds positively to current and expected income and negatively to interest rates.”