Estimating macroeconomic models of financial crises: An endogenous regime‐switching approach
Estimating macroeconomic models of financial crises: An endogenous regime‐switching approach
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New York: John Wiley & Sons, Inc
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English
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Publisher
New York: John Wiley & Sons, Inc
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We develop a new model of cycles and crises in emerging markets, featuring an occasionally binding borrowing constraint and stochastic volatility, and estimate it with quarterly data for Mexico since 1981. We propose an endogenous regime‐switching formulation of the occasionally binding borrowing constraint, develop a general perturbation method to...
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Estimating macroeconomic models of financial crises: An endogenous regime‐switching approach
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TN_cdi_proquest_journals_3162814638
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_3162814638
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ISSN
1759-7323
E-ISSN
1759-7331
DOI
10.3982/QE2038
