Banks and Monetary Shocks in Emerging Markets : How Far Can We Go with the "Credit View"? /
This paper examines the propagation of monetary shocks in a two-good optimizing macromodel where domestic banking activity is costly and the non-tradable sector is highly dependent on domestic bank credit, as in most emerging market economies. The model develops the Bernanke-Blinder 'credit vie...
| Հիմնական հեղինակ: | |
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| Այլ հեղինակներ: | |
| Ձևաչափ: | Ամսագիր |
| Լեզու: | English |
| Հրապարակվել է: |
Washington, D.C. :
International Monetary Fund,
2000.
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| Շարք: | IMF Working Papers; Working Paper ;
No. 2000/068 |
| Առցանց հասանելիություն: | Full text available on IMF |
| Ամփոփում: | This paper examines the propagation of monetary shocks in a two-good optimizing macromodel where domestic banking activity is costly and the non-tradable 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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| Նյութի նկարագրություն: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Ֆիզիկական նկարագրություն: | 1 online resource (37 pages) |
| Ձևաչափ: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Հասանելի: | Electronic access restricted to authorized BRAC University faculty, staff and students |