My da|ra Login

Detailed view

metadata language: English

Replication data for: Optimal Contracts, Aggregate Risk, and the Financial Accelerator

Version
V0
Resource Type
Dataset
Creator
  • Carlstrom, Charles T.
  • Fuerst, Timothy S.
  • Paustian, Matthias
Publication Date
2016-01-01
Description
  • Abstract

    This paper derives the optimal lending contract in the financial accelerator model of Bernanke, Gertler, and Gilchrist (1999), henceforth, BGG. The optimal contract includes indexation to the aggregate return on capital, household consumption, and the return to internal funds. This triple indexation results in a dampening of fluctuations in leverage and the risk premium. Hence, compared with the contract originally imposed by BGG, the privately optimal contract implies essentially no financial accelerator. (JEL D11, D81, D86, D92, E13, G31, L26)
Availability
Download
Relations
  • Is supplement to
    DOI: 10.1257/mac.20120024 (Text)
Publications
  • Carlstrom, Charles T., Timothy S. Fuerst, and Matthias Paustian. “Optimal Contracts, Aggregate Risk, and the Financial Accelerator.” American Economic Journal: Macroeconomics 8, no. 1 (January 2016): 119–47. https://doi.org/10.1257/mac.20120024.
    • ID: 10.1257/mac.20120024 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Carlstrom, Charles T.; Fuerst, Timothy S.; Paustian, Matthias (2016): Replication data for: Optimal Contracts, Aggregate Risk, and the Financial Accelerator. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116393