[en] Modelling financial markets remains a main challenge in current macroeconomic theory. This paper summarizes the main difficulties and reasons why financial aspects were not included earlier in macroeconomic models. It describes the main modelling strategies adopted so far, from financial accelerator models to financial intermediation and banking crises. It also discusses briefly different interpretations of the Great Recession.
Disciplines :
Macroeconomics & monetary economics
Author, co-author :
Sneessens, Henri ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA)
Language :
English
Title :
L’intermédiation financière dans les modèles macroéconomiques
Alternative titles :
[en] Financial Intermediation in Macroeconomic Modeling
Publication date :
2017
Journal title :
Reflets et Perspectives de la Vie Economique
ISSN :
1782-1509
Publisher :
De Boeck Université, Bruxelles, Belgium
Special issue title :
La crise financière, où en sommes-nous, dix ans après ?
