Ben S. Bernanke

Ben S. Bernanke · Mark Gertler · Simon Gilchrist

Embedding a costly-state-verification debt contract -- in which a borrower's external finance premium depends inversely on net worth -- into an otherwise standard New Keynesian model, this chapter …

Ben S. Bernanke · Mark Gertler

Bernanke and Gertler build a general-equilibrium model in which entrepreneurs must borrow to fund investment projects, know more than their lenders about the project's chance of success, and can be …

Ben S. Bernanke · Frederic S. Mishkin

This 1997 Journal of Economic Perspectives essay by Ben Bernanke and Frederic Mishkin is a survey and policy assessment, not an empirical study: it draws on comparative experience across the eight …

Ben S. Bernanke · Mark Gertler

This 1995 Journal of Economic Perspectives paper by Ben Bernanke and Mark Gertler surveys the "credit channel" of monetary policy transmission — described explicitly as an amplifying mechanism, not an …

Ben S. Bernanke · Ilian Mihov

Bernanke and Mihov (1998, QJE) address a measurement problem in the monetary-VAR literature: the era's dominant methods for extracting a "monetary policy shock" -- Cholesky orderings built around the …

Ben S. Bernanke · Jean Boivin · Piotr Eliasz

This 2005 Quarterly Journal of Economics paper by Ben Bernanke, Jean Boivin, and Piotr Eliasz proposes the Factor-Augmented VAR (FAVAR) to address a specific problem with standard small monetary VARs: …

Ben S. Bernanke · Vincent R. Reinhart · Brian P. Sack

This 2004 Brookings Papers on Economic Activity paper by Ben Bernanke, Vincent Reinhart, and Brian Sack asks whether "nonstandard" monetary policies can still work once the short-term policy rate is …

Ben S. Bernanke

Complementing Friedman and Schwartz's monetary account of the Great Depression, Bernanke argues that the banking panics and pervasive debtor insolvency of 1930-33 independently raised the real cost of …