Credit and Banking in a DSGE model
euro area banking rates, this attenuator effect can be sizeable but short-lived. The model also allows analyzing the consequences of a tightening of credit conditions that reduces the supply of credit and increases banks' interest rates independently of monetary policy. In such a scenario, the greatest contribution to the negative effects on output components comes from spillovers from the tightening on firms.
Year of publication: |
2009
|
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Authors: | NERI, Stefano ; SESSA, Luca ; SIGNORETTI, Federico ; GERALI, Andrea |
Institutions: | Society for Economic Dynamics - SED |
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