Uncertainty Shocks and Balance Sheet Recessions

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Subfields: Finance

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Precautionary Savings, Illiquid Assets, and the Aggregate Consequences of Shocks to Household Income Risk (2019, background): “…credit crunch.8 4To name a few, Arellano, Bai, and Kehoe (2012), Bachmann and Bayer (2013), Christiano, Motto, and Rostagno (2014), Chugh (2016), Di Tella (2018), Gilchrist, Sim, and Zakrajšek (2014), Narita (2011), Panousi and Papanikolaou (2012), Schaal (2012), and Vavra (2014) have studied the…”
Wholesale Banking and Bank Runs in Macroeconomic Modeling of Financial Crises (2016, unknown): “Thus to make the retail bank indi¤erent, Rbt+1 must be less than R kt+1: Let t be a retail banks e¤ective leverage multiple, namely the ratio of assets to net worth, where assets are weighted by the relative ease of diversion: t (Qt + f r t )k r t + ( bt ) nt : (25)”