Financial innovations and macroeconomic volatility
By: Urban Jermann, Vincenzo Quadrini
Contributors: Quadrini, Vincenzo; National Bureau of Economic Research
Series: NBER working paper series -- working paper 12308; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 12308.
Publisher: National Bureau of Economic Research
Published: 2006
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] /
Description: "The volatility of US business cycle has declined during the last two decades.  During the same period the financial structure of firms has become more volatile.  In this paper we develop a model in which financial factors play a key role in generating economic fluctuations.  Innovations in financial markets allow for greater financial flexibility and generate a lower volatility of output together with a higher volatile in the financial structure of firms"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 6/29/2006.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.