Wijnbergen, Sweder van; Jakucionyte, Egle - 2016
emerging Europe motivates our analysis of currency mismatch losses in different sectors in the economy, and the … macroconsequences of reallocating losses from the corporate to the banking sector ex post. We develop a small open economy New Keynesian … incorporates an active banking sector with financial frictions. The model, calibrated to the Hungarian economy, shows that, in …