Martins, Bruno Silva; Bonomo, Marco - Associação dos Centros de Pós-Graduação em … - 2005
The objective of this paper is to investigate the potential role of credit market imperfections in transmission mechanism of monetary policy in Brazil. The paper uses the.nancial accelerator model, developed by Bernanke, Gertler and Gilchrist (1999), where the credit channel arises via balance...