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O canal do crédito, o sobreendividamento e as crises económicas

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Author Info

  • José Alberto Fuinhas

    ()
    (Departamento de Gestão e Economia, Universidade da Beira Interior)

Abstract

Recorremos à teoria do canal do crédito para avaliar a integração de uma pequena economia, com instabilidade nominal, numa união monetária desenhada para garantir um elevado nível de estabilidade monetária. Conclui-se que o choque estrutural da integração na união monetária pode conduzir ao sobreendividamento e a uma recessão prolongada.

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File URL: http://www.dge.ubi.pt/investigacao/TDiscussao/TD032003.pdf
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Bibliographic Info

Paper provided by Universidade da Beira Interior, Departamento de Gestão e Economia (Portugal) in its series Working Papers de Gestão, Economia e Marketing (Management, Economics and Marketing Working Papers) with number 03/2003.

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Length: 15 pages
Date of creation: 2003
Date of revision:
Handle: RePEc:csh:wpecon:03/2003

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Related research

Keywords: Canal do crédito; canal do crédito bancário; canal do balanço; sobreendividamento; crises económicas e união monetária;

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References

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  1. Bernanke, Ben & Gertler, Mark & Gilchrist, Simon, 1994. "The Financial Accelerator and the Flight to Quality," Working Papers 94-24, C.V. Starr Center for Applied Economics, New York University.
  2. Hubbard, R Glenn & Kuttner, Kenneth N & Palia, Darius N, 2002. "Are There Bank Effects in Borrowers' Costs of Funds? Evidence from a Matched Sample of Borrowers and Banks," The Journal of Business, University of Chicago Press, vol. 75(4), pages 559-81, October.
  3. José Alberto Fuinhas, 2002. "A admissibilidade teórica do canal do balanço," Working Papers de Gestão, Economia e Marketing (Management, Economics and Marketing Working Papers) 06/2002, Universidade da Beira Interior, Departamento de Gestão e Economia (Portugal).
  4. Bernanke, Ben & Gertler, Mark, 1995. "Inside the Black Box: The Credit Channel of Monetary Policy Transmission," Working Papers 95-15, C.V. Starr Center for Applied Economics, New York University.
  5. Stephen D. Oliner & Glenn D. Rudebusch, 1994. "Is there a broad credit channel for monetary policy?," Working Paper Series / Economic Activity Section 146, Board of Governors of the Federal Reserve System (U.S.).
  6. José Alberto Fuinhas, 2002. "Alguns considerandos sobre o canal do crédito," Working Papers de Gestão, Economia e Marketing (Management, Economics and Marketing Working Papers) 08/2002, Universidade da Beira Interior, Departamento de Gestão e Economia (Portugal).
  7. Charles X. Hu, 1999. "Leverage, monetary policy, and firm investment," Economic Review, Federal Reserve Bank of San Francisco, pages 32-39.
  8. Iris Claus & Christie Smith, 1999. "Financial intermediation and the monetary transmission mechanism," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, December.
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Citations

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Cited by:
  1. Marques, Luís Miguel & Fuinhas, José Alberto & Marques, António Cardoso, 2012. "Interação entre o mercado acionista e o crescimento económico: Uma apreciação do caso português (1993-2010)
    [Interaction between the stock market and economic growth: An assessment of the Por
    ," MPRA Paper 39808, University Library of Munich, Germany.

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