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 depo...
| Main Authors: | , |
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| Format: | Article |
| Language: | Portuguese |
| Published: |
Universidade de São Paulo
2001-02-01
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| Series: | Economia Aplicada |
| Subjects: | |
| Online Access: | https://www.revistas.usp.br/ecoa/article/view/218840 |