BoE paper builds GDP-at-risk model

Bank of England blue sky

New research published by the Bank of England details a modelling approach that captures the economy’s tendency to suffer from credit crunches and episodes at the effective lower bound on interest rates.

The staff working paper, by David Aikman, Kristina Bluwstein and Sudipto Karmakar, sets out a semi-structural New Keynesian model of GDP at risk. They focus on constraints: how the lower bound reduces the ability of central banks to cushion shocks; how a fall in bank capital can trigger a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.