Financial Fragility in a General Equilibrium Model: the Brazilian case
This paper employs a general equilibrium approach to model the Brazilian financial system. We show that the model is able to replicate the main characteristics of the data and to predict short-term trends. The model is calibrated for the 2002-2006 period. Empirical results suggest that the financial system is improving in terms of financial stability over time. Furthermore, the model has been proven useful to model the Brazilian banking system and could be employed to evaluate the impact of changes in financial regulation on the banking system.
Year of publication: |
2010-12
|
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Authors: | Tabak, Benjamin M. ; Cajueiro, Daniel O. ; Fazio, Dimas M. |
Institutions: | Central Bank of Brazil, Research Department |
Saved in:
freely available
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