Credit Frictions and Optimal Monetary Policy

By Vasco Cúrdia, Michael Woodford. 2008

645 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/8a890c5cff3a96974d345a445ba313bcf67dd2a9

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In Economics and Econometrics

Citations in the corpus

Simple Analytics of the Government Expenditure Multiplier (2010, positive): “While this is too large an effect to be consistent with neoclassical theory, at least in standard models, it is easily consistent with a simple New Keynesian model, at least to the extent that monetary policy has in fact maintained a relatively constant real interest rate in response to fiscal shock”
Sovereign Risk, Fiscal Policy, and Macroeconomic Stability (2013, methodology): “Building on the model proposed by Cúrdia and Woodford (2009), we show that the sovereign risk channel makes the economy (more) vulnerable to problems of indeterminacy.”
Credit and Banking in a DSGE Model of the Euro Area (2010, background): “In independent works, Cúrdia and Woodford (2008), Andrés and Arce (2009), Benes and Lees (2007), Aliaga-Dı́az and Olivero (2007) and Aslam and Santoro (2008), have developed models with financial intermediaries and a time-varying spread between deposits and lending rates.”
International Channels of Transmission of Monetary Policy and the Mundellian Trilemma (2015, positive): “Recently, there has been a flurry of models featuring explicitly financial intermediaries (for example, Gertler and Karadi, 2011; Curdia and Woodford, 2010; Gertler and Kiyotaki, 2010; Brunnermeier and Sannikov, 2014; He and Krishnamurthy, 2013; Adrian and Boyarchenko, 2012; Coimbra, 2015).”
Optimal Monetary Stabilization Policy (2010, background): “7), it would also result in less excess inflation in the first place, for any given magnitude of mis-estimate of the natural rate of output.(21) Similarly, Aoki and Nikolov (2005) show that a price-level rule for monetary policy is more robust to possible errors in the central bank’s economic model.”
Monetary policy and risk taking (2015, background): “One example is Curdia and Woodford [20] and the companion paper Curdia and Woodford [20].”
Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach* (2012, background): “…corresponds well with a ''Minsky moment,'' whereas in the other papers the source of the shock is a drop in resellability of financial assets in secondary markets (Del Negro et al. 2010) or various types of disturbances that directly affect the financial intermediaries (Curdia and Woodford 2009).”