Credit Channel without the LM Curve
This paper extends Bernanke and Blinder (1988)'s macroeconomic model of credit channel to an environment where the monetary authority has control over a short-term interest rate. The comparative statics regarding changes in the market interest rate, in the required reserve ratio over bank deposits, and in the risk of public bonds are highlighted.
|Date of creation:||May 2001|
|Publication status:||Published in Economia Aplicada (Brazilian Journal of Applied Economics), Vol. 5, no. 1 (Jan-Mar 2001): 213-227.|
|Contact details of provider:|| Web page: http://www.bcb.gov.br/?english|
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