Mr.Luis Catão, Mr.Sergio L. Rodriguez
Description
This paper examines the propagation of monetary shocks in a two-good optimizing macromodel where domestic banking activity is costly and the non-trada
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ble sector is highly dependent on domestic bank credit, as in most emerging market economies. The model develops the Bernanke-Blinder “credit view” of the monetary transmission mechanism along classical lines, with no Keynesian rigidities being imposed and the only sources of “imperfection” arising from deposit and credit-in-advance constraints. Using numerical simulations, we show that such a relatively simple model goes a long way toward explaining some key “stylized facts” of recent financial crises.
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Genres
Business & Economics
Tags
Business & Economics
Economics
Banks & Banking
Macroeconomics
Money & Monetary Policy
Reading Moods
No reading moods specified
Contributors
No contributors specified
Publishing Info
Publisher
International Monetary Fund
Month-Year
Mar, 2000
ISBN
ISBN-13: 9781451848984
ISBN-10: 1451848986
Language
English
No. of Pages
37
Format
Paperback
Awards & Recognition
No awards specified
Available at
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