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A Descriptive Model of Banking and Aggregate Demand

We integrate a banking sector into an accessible macroeconomic framework, which then provides new insights on developments around the Global Financial Crisis. The analysis shows that growth of banking sector money supply may help explain the secular decline in long-term interest rates before the cri... Full description

Main Author: Mierau, O.
Contributors: Mink, Mark
Contained in: De Economist : Netherlands Economic Review Dordrecht [u.a.] : Springer Science + Business Media B.V Vol. 166, No. 2 (2018), p. 207-237
Journal Title: De Economist : Netherlands Economic Review
Fulltext access: Fulltext access (direct link - free access) 10.1007/s10645-018-9320-4
Availability is being checked...
Links: Volltext (dx.doi.org)
ISSN: 1572-9982
Keywords: Aggregate demand
Banking
Global financial crisis
Monetary transmission
OriginalPaper
DOI: 10.1007/s10645-018-9320-4
Language: English
Notes: Open Access
We appreciate the valuable comments by an anonymous referee, the editor, Ben Heijdra, as well as Jan Marc Berk, Jan Willem van den End, Jakob de Haan, Skander van den Heuvel, Jan Jacobs, Gerard Kuper, Martien Lamers, Jasper Lukkezen, Steven Ongena, Joost Passenier, Sebastiaan Pool, Kasper Roszbach, João Sousa, Farindokht Vaghefi, Kieran Walsh, Frans de Weert, and Michalis Zaouras, and by participants of the 2016 Research Workshop of the Banking Analysis Task Force of the Eurosystem’s Monetary Policy Committee, the Seminar Series of the Netherlands Bureau for Economic Policy Analysis, the 2017 International Conference on Macroeconomic Analysis and International Finance, and the 2017 IBEFA Summer Meeting. All remaining errors are our own. The views in this paper do not necessarily reflect official opinions of De Nederlandsche Bank (DNB). An earlier version of this paper was circulated as DNB Working Paper 2016-500.
Physical Description: Online-Ressource
ID (e.g. DOI, URN): 10.1007/s10645-018-9320-4
s10645-018-9320-4
PPN (Catalogue-ID): SPR061898287
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