Monetary shocks, agency costs, and business cycles

By Charles T. Carlstrom, T. Fuerst. 2001

111 citations recorded by the source corpus.

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Credit, Vacancies and Unemployment Fluctuations (2014, unknown): “The resulting wage rule is Wt = η [ Xt + γ φt Ω(xt) θt ] + (1− η)b (9)”
Optimal Monetary Policy in a Model with Agency Costs (2010, background): “In a series of papers, Carlstrom and Fuerst (1997, 1998, 2001) built on this earlier work to make the analysis quantitative.”
Credit Cycles Redux (2004, unknown): “In the absence of credit constraints, equations (4) and (5) imply that production would be efficient, i.”
The Great Depression and the Friedman-Schwartz Hypothesis (2003, unknown): “02, or 2 percent quarterly.(8) To understand how we were able to specify F (ω̄) exogenously, recall that the log-normal distribution has two parameters - the mean and variance of logω.”