Carvalho, Carlos Viana de; Pasca, Nilda Mercedes Cabrera; … - 2017
macroeconomic effects of the credit deepening process observed in Latin America in the last decade - most notably in Brazil. In the … is designed to isolate the effects of credit deepening through demand-side channels, and abstracts from potential effects … of credit supply on total factor productivity. In the calibrated model, credit deepening generates only modest above …