Modeling with Macro-Financial Linkages : Credit and Policy Shocks in Emerging Markets /

This paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an emerging market economy where policymakers are concerned about risks associated wit...

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Tác giả chính: Benes, Jaromir
Tác giả khác: Otker, Inci, Vavra, David
Định dạng: Tạp chí
Ngôn ngữ:English
Được phát hành: Washington, D.C. : International Monetary Fund, 2009.
Loạt:IMF Working Papers; Working Paper ; No. 2009/123
Truy cập trực tuyến:Full text available on IMF
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100 1 |a Benes, Jaromir. 
245 1 0 |a Modeling with Macro-Financial Linkages :   |b Credit and Policy Shocks in Emerging Markets /  |c Jaromir Benes, Inci Otker, David Vavra. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2009. 
300 |a 1 online resource (34 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an emerging market economy where policymakers are concerned about risks associated with rapid credit growth, financial dollarization, and foreign borrowing, while lacking traditional tools to effect monetary policy transmission, and hence could resort to more direct instruments, such as foreign exchange market intervention and regulatory and administrative measures. Calibrating the model to a stylized emerging European economy, the paper simulates real and financial sector implications of various external and policy-related shocks that could be used as input for monetary policy making. 
538 |a Mode of access: Internet 
700 1 |a Otker, Inci. 
700 1 |a Vavra, David. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2009/123 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2009/123/001.2009.issue-123-en.xml  |z IMF e-Library