External Constraints on Monetary Policy and the Financial Accelerator

By M. Gertler, Simon Gilchrist, Fabio Natalucci. 2007

730 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/79a7d77600ffbbcacaef343058a89d800625780f

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Citations in the corpus

Exchange Rates and Monetary Policy in Emerging Market Economies (2004, neutral): “[30] Gertler, Mark, Simon Gilchrist and Fabio Natalucci (2001), “External Constraints on Monetary Policy and The Financial Accelerator,” mimeo, New York University.”
Remittances and the Dutch disease (2009, neutral): “[19] Gertler, M.”
Business Cycles and Macroeconomic Policy in Emerging Market Economies (2003, background): “Central to improved stabilization performance is that an inflation target that anchors medium-term expectations would permit the central bank to smooth cyclical shocks without inducing countervailing shifts in long-term interest rates.”
Credit Frictions and Optimal Monetary Policy (2008, background): “At the same time, the fact that households may go for years without access to insurance transfers means that there remains a non-trivial financial friction for the banking sector to partially mitigate.(15) To simplify the presentation, we assume here that the random dates on which a given household ”
Financial Factors in Economic Fluctuations (2010, neutral): “Extensions to open-economy settings include Krugman (1999), Aghion, Bacchetta, and Banerjee (2000), Cespedes, Chang, and Velasco (2000), De Graeve (2007) and Gertler, Gilchrist, and Natalucci (2003).”
Foreign effects of higher U.S. interest rates (2019, background): “Gopinath (2015)’s index of trade invoicing starts in 1999.”
The Magnitude and Cyclical Behavior of Financial Market Frictions (2004, methodology): “1 Introduction In a world à la Modigliani and Miller (1958) with no financial market imperfections, the capital structure of firms is indeterminate and the aggregate mix of debt versus equity is irrelevant for the evolution of the real economy.”
The External Finance Premium and the Macroeconomy: Us Post-Wwii Evidence (2008, neutral): “Among those, Gertler et al. (2007) analyze the relevance of the nancial accelerator in open economy crisis episodes.”
Liability Dollarization and the Bank Balance Sheet Channel (2002, background): “A number of authors have examined how the credit channel a¶ects business cycles and monetary policy when non-°nancial corporations have a cur- rency mismatch in their assets and liabilities (see C¡espedes [14], C¡espedes, Chang, and Velasco [15], Cook [21], Devereux and Lane [23], and Gertler, Gilch”
The New Economics of Prudential Capital Controls: A Research Agenda (2011, background): “See Hart (1975), Stiglitz (1982), Geanakoplos and Polemarchakis (1986) and Greenwald and Stiglitz (1986) for a discussion of the inefficiency of the decentralized equilibrium in economies with incomplete markets at a technical level.”