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- W946969816 abstract "The recent global financial crisis has shown that the importance of financial market developments for business cycle fluctuations had been underestimated substantially. Since financial factors were only peripherally integrated into standard macroeconomic models, these models significantly had underestimated the scope and persistence of the financial crisis. This dissertation contributes to the literature by providing a comprehensible theoretical and empirical framework for analyzing the propagation of shocks to macroeconomic uncertainty and financial stress on economic activity. To do so, this dissertation employs both theoretical and empirical methods, such as a dynamic stochastic general equilibrium (DSGE) model, dynamic factor models, and vector autoregressive models. The nonlinear nature of uncertainty and financial stress is always taken into account by applying appropriate analytical and numerical methods." @default.
- W946969816 created "2016-06-24" @default.
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- W946969816 date "2013-09-18" @default.
- W946969816 modified "2023-09-23" @default.
- W946969816 title "Financial stress, uncertainty, and economic activity" @default.
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