Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
The macroeconomic effects of capital shortfalls in the financial intermediation sector are compared across five dynamic equilibrium models for policy analysis. Although all the models considered share antecedents and a methodological core, each model emphasizes different transmission channels. This approach delivers model-based confidence intervals for the real and financial effects of shocks originating in the financial sector. The width of 90 percent confidence interval for the GDP response to a banking-sector shock produced by a VAR is comparable to the range of outcomes featured in our model-comparison exercise.