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.

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Year of publication:	2001-05
Authors:	Chu, Victorio Y. T. ; Nakane, Márcio I.
Institutions:	Central Bank of Brazil, Research Department

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Extent:	application/pdf
Series:	Working Papers Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in Economia Aplicada (Brazilian Journal of Applied Economics), Vol. 5, no. 1 (Jan-Mar 2001): 213-227. Number 20
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005419120