School of Economics

Macroeconomics, Growth and History Centre (MaGHiC)


About the Centre

The Macroeconomics, Growth and History Centre (MaGHiC) is the focal point for macroeconomic research, events and PhD training at the University of Kent. The research interests of the group span macroeconomic theory, empirical macroeconomics, macroeconometrics and the macroeconomic analysis of historical data. The Centre has strengths in growth, structural change, computational economics, firm dynamics and macroeconomic history.

Researchers within the Centre have published articles in leading international journals including the American Economic Review, the Review of Economic Studies, the Journal of The European Economic Association, the Economic Journal, the American Economic Journal: Macroeconomics, the Review of Economic Dynamics, the Journal of Econometrics and many others.

Tree Rings

Financial frictions in macroeconomic models

20 December 2017

An Article Image

by Alfred Duncan, University of Kent and Charles Nolan, University of Glasgow, discussion paper KDPE 1719, December 2017.

Non-technical summary:

In recent decades, macroeconomic researchers have looked to incorporate financial intermediaries explicitly in business cycle models. These modelling developments have helped us to understand the role of the financial sector in the transmission of policy and external shocks into macroeconomic dynamics. They have also helped us to better understand the consequences of financial instability for the macroeconomy.

There remain large gaps in our knowledge of the interactions between the financial sector and macroeconomic outcomes. Specifically, the effects of financial stability and macroprudential policies are not well understood.

You can download the complete paper here.

 

 

School of Economics, Keynes College, University of Kent, Canterbury, Kent, CT2 7NP

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Last Updated: 06/02/2019