Financial Crises in DSGE Models: Selected Applications of MAPMOD
This paper, together with a technical companion paper, presents MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the real economy. But excessively large and risky loans can impair balance sheets and sow the seeds of a financial crisis. Banks respond to losses through higher spreads and rapid credit cutbacks, with adverse effects for the real economy. These features allow the model to capture the basic facts of both the pre-crisis and crisis phases of financial cycles.
In traditional CP-OFDM technology exist has two drawbacks,i.e.,the adding of cyclic prefix would result in low spectrum efficiency and it is sensitive to the Doppler frequency shift.This paper principally discusses the issue of pulse shaping filter for GFDM(generalized frequency division multiplex) system.With the suitable arrangement,GFDM system could match the channel propagation against the inter-symbol interference and inter-carrier interference.Finally,PAPR(peak-to-average-power-ratio) for GFDM system is exoounded,and the bit error ratio performance in presence of HPA(high-power amplifier) also analyzed.