Contagion and Volatility with Imperfect Credit Markets /
This paper interprets contagion effects as an increase in the volatility of aggregate shocks impinging on the domestic economy. The implications of this approach are analyzed in a model with two types of credit market imperfections: domestic banks borrow at a premium on world capital markets, and do...
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| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
1997.
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| Серии: | IMF Working Papers; Working Paper ;
No. 1997/127 |
| Online-ссылка: | Full text available on IMF |