Overborrowing and systemic externalities in the business cycle

By Javier Bianchi. 2009

859 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/ff6715d4cfb65938c90dcb36b4c0fbea693f8308

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Citations in the corpus

Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective (2015, unknown): “In this paper, we provide an integrated analysis of alternative policy tools that can be interpreted in terms of fiscal, monetary and macroprudential policies using the same model economy studied by Bianchi (2011).”
Capital Control Measures: A New Dataset (2015, unknown): “This allows for a more detailed analysis of capital controls, including an examination of the 4For just a few examples, see Korinek (2010), Bianchi (2011), Farhi andWerning (2012), Jeanne (2012), Schmitt-Grohé and Uribe (2012), and Benigno and others (2014).”
Capital Account Policies and the Real Exchange Rate (2012, unknown): “The main vehicle for households’ and firms’ financial saving is bank deposits, which have amounted to about 140 percent of GDP on average in the 2000s, and have been increasing over time.”
Regulating Capital Flows to Emerging Markets: An Externality View (2018, unknown): “A number of recent papers, including Jeanne and Korinek (2010a) and Bianchi (2011), have emphasized that excessive borrowing creates externalities in emerging economies because individual borrowers do not internalize that, when a negative shock hits, their past borrowing contributes to a feedback lo”
Optimal Development Policies With Financial Frictions (2014, unknown): “A related strand of work emphasizes a different type of pecuniary externality that operates through prices in borrowing constraints (see e.g. Lorenzoni, 2008; Jeanne and Korinek, 2010; Bianchi, 2011).”
Overborrowing, Financial Crises and ‘Macro-Prudential’ Policy? (2011, unknown): “This externality was introduced into quantitative studies of macro-prudential policy by Bianchi (2011) and Benigno, Chen, Otrok, Rebucci, and Young (2011) using a model of emerging markets crises proposed by Mendoza (2002).”
Capital Regulation in a Macroeconomic Model with Three Layers of Default (2014, unknown): “12 Finally, our paper shares the goal of finding a rationale for macroprudential policies with papers that have recently put the emphasis on pecuniary externalities, including Bianchi and Mendoza (2010), Jeanne and Korinek (2010), Bianchi (2011), Gersbach and Rochet (2012), and Christiano and Ikeda ”