Date Friday, November 30, 2018
Time 12:00 pm
Location King Building, 237

10 N. Professor St.
Oberlin, OH 44074

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"DSGE Models with Financial Frictions: Does Frequency Matter?" is the title of a talk presented  by Paolo Gelain of the Federal Reserve Bank of Cleveland.

We use mixed-frequency data to estimate a dynamic stochastic general equilibrium model embedded with the financial accelerator mechanism a la Bernanke et al. (1999).

The use of financial variables in the estimation, available at high frequency and typically very responsive to changing economic conditions, has a large impact on the estimated parameters.

As a consequence the transmission of shocks and their relevance in explaining endogenous variables variability is deeply altered. In particular we find that the financial accelerator (decelerator) mechanism is either inverted or accentuated.

Sponsored by the Department of Economics Danforth-Lewis Speakers Series

Event Contact

Terri Pleska, Administrative Assistant

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