Estimating Macroeconomic Models of Financial Crises: An Endogenous Regime-Switching Approach
收藏NBER2020-04-01 更新2025-01-04 收录
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https://www.nber.org/papers/w26935
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资源简介：
We estimate a workhorse DSGE model with an occasionally binding borrowing constraint. First, we propose a new specification of the occasionally binding constraint, where the transition between the unconstrained and constrained states is a stochastic function of the leverage level and the constraint
提供机构：
美国国家经济研究局
创建时间：
2020-04-01
