Financial-sector shocks in a credit-view model
A variation of the Bernanke-Blinder credit-view model reveals that holding constant the money supply following various financial-sector shocks, including an autonomous drop in the money multiplier, is insufficient to prevent aggregate demand from decreasing.
Year of publication: |
2011
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Authors: | Abrams, Burton A. |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 112.2011, 3, p. 256-258
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Publisher: |
Elsevier |
Keywords: | Credit-view model Monetary policy Money-supply model |
Saved in:
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