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L'intermédiation financière dans l'analyse macroéconomique : Le défi de la crise

  • Eleni Iliopulos


    (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics, CEPREMAP - Centre pour la recherche économique et ses applications)

  • Thepthida Sopraseuth

    (CEPREMAP - Centre pour la recherche économique et ses applications, GAINS-TEPP - UM - Université du Maine)

In this paper, we review the macroeconomic literature on financial frictions and banking in a dynamic general equilibrium framework. Our work focuses first on the pioneer articles that have analyzed the amplification effects associated to the financial accelerator. We then shift our attention towards the recent literature that flourished in the aftermath of the financial crisis. Indeed, the crisis has challenged several assumptions and modeling tools that were commonly used in the DSGE literature. We thus review the main recent contributions that have tried to overcome the limits of old models.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00613188.

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Date of creation: Jul 2011
Date of revision:
Publication status: Published in Documents de travail du Centre d'Economie de la Sorbonne 2011.46 - ISSN : 1955-611X. 2011
Handle: RePEc:hal:cesptp:halshs-00613188
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