Verona, F., Martins, M.M.F. and Drumond, I. (2013) (Un)anticipated Monetary Policy in a DSGE Model with a Shadow Banking System (Bank of Finland Research Discussion Paper 4/2013).

has been cited by the following article:

• TITLE: Effect of Confidence Shock on an Economy with a Shadow Banking System: Analysis Based on Dynamic Stochastic General Equilibrium Model

  AUTHORS: He Cong, Yang Chen

  KEYWORDS: Shadow Banking, Optimism, Dynamic Stochastic General Equilibrium Model, Confidence Shock

  JOURNAL NAME: Theoretical Economics Letters, Vol.8 No.15, November 21, 2018

  ABSTRACT: We introduced a financial intermediary system including shadow banks into a New-Keynesian dynamic stochastic general equilibrium framework and analyzed the effect of confidence on the real economy. A model simulation indicated that confidence boosts growth and promotes consumption and investment in the real economy. The effects on the shadow banking system and traditional commercial banking system differed, thereby providing a new perspective for policy-making and economic structure model research.