Real-financial interactions in macro-finance models
Smith, Ron P. (2009) Real-financial interactions in macro-finance models. Quantitative and Qualitative Analysis in Social Sciences 3 (1), pp. 1-20. ISSN 1752-8925.
Even before the August 2007 credit crunch the interaction between real and financial variables had become a central issue in macroeconomics, particularly to Central Bankers. Different theoretical models tend to be used to analyse macro and finance issues and this raises the role of multiple models: Central Banks tend to use many models of the economy. This paper surveys some of the recent literature on macro-finance to examine two interacting questions: the use of multiple models by Central Banks and the theory on the relationships between macroeconomic and financial variables.
|Keyword(s) / Subject(s):||global VAR (GVAR), DSGE, macro-finance|
|School:||Birkbeck Schools and Departments > School of Business, Economics & Informatics > Economics, Mathematics and Statistics|
|Research Centre:||Applied Macroeconomics, Birkbeck Centre for|
|Date Deposited:||28 Jan 2011 12:19|
|Last Modified:||07 Dec 2016 09:11|
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