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monetary shocks. To do so I develop a quantitative general equilibrium model of the bank-lending channel with imperfect credit … are credit constrained and large firms are not. For some parameter values the model reproduces the cyclical observations …
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Remarks by Charles L. Evans, President and Chief Executive Officer,Federal Reserve Bank of Chicago Czech National Bank Prague, Czech Republic
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provide structural and reduced form evidence that the dominant source of credit market imperfections varies with wealth. For …
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