Contagion and Volatility with Imperfect Credit Markets /

This paper interprets contagion effects as an increase in the volatility of aggregate shocks impinging on the domestic economy. The implications of this approach are analyzed in a model with two types of credit market imperfections: domestic banks borrow at a premium on world capital markets, and do...

Descripción completa

Detalles Bibliográficos
Autor principal: Aizenman, Joshua
Otros Autores: Agenor, Pierre-Richard
Formato: Revista
Lenguaje:English
Publicado: Washington, D.C. : International Monetary Fund, 1997.
Colección:IMF Working Papers; Working Paper ; No. 1997/127
Acceso en línea:Full text available on IMF