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150128 ||| eng |
| 020 |
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|a 9781463938451
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| 100 |
1 |
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|a Sandri, Damiano
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| 245 |
0 |
0 |
|a Balance-Sheet Shocks and Recapitalizations
|c Damiano Sandri, Fabian Valencia
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2012
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| 300 |
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|a 26 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Wealth
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| 653 |
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|a Institutional Investors
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| 653 |
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|a Pension Funds
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| 653 |
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|a Financial frictions
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| 653 |
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|a Finance
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| 653 |
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|a Economic Theory
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| 653 |
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|a Labour
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| 653 |
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|a Option pricing
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Dynamic Analysis
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| 653 |
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|a Saving
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| 653 |
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|a Financial institutions
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| 653 |
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|a Self-employed
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| 653 |
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|a Contingent Pricing
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| 653 |
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|a Financial Instruments
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| 653 |
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|a Economic theory & philosophy
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| 653 |
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|a Economic forecasting
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| 653 |
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|a Economic sectors
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| 653 |
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|a Labor
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| 653 |
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|a Futures Pricing
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| 653 |
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|a Non-bank Financial Institutions
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| 653 |
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|a Nonbank financial institutions
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| 653 |
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|a Financial Institutions and Services: General
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| 653 |
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|a Financial Economics
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| 653 |
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|a Self-employment
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| 653 |
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|a Labor Demand
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| 653 |
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|a Financial services industry
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Economic theory
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| 653 |
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|a Programming Models
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| 653 |
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|a Income economics
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| 653 |
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|a Optimization Techniques
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| 653 |
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|a Financial sector
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| 700 |
1 |
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|a Valencia, Fabian
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
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|a 10.5089/9781463938451.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2012/068/001.2012.issue-068-en.xml?cid=25760-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a We develop a dynamic stochastic general equilibrium model with financial frictions on both financial intermediaries and goods-producing firms. In this context, due to high leverage of financial intermediaries, balance sheet disruptions in the financial sector are particularly detrimental for aggregate output. We show that the welfare gains from recapitalizing the financial sector in response to large but rare net worth losses are as large as those from eliminating business cycle fluctuations. We also find that these gains are increasing in the size of the net worth loss, are larger when recapitalization funds are raised from the household rather than the real sector, and may increase with a reduction in financial intermediaries idiosyncratic risk
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