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|c 5.00 USD
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|z 9781484336557
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|a 1018-5941
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|a Taheri Sanjani, Marzie.
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|a Financial Frictions in Data :
|b Evidence and Impact /
|c Marzie Taheri Sanjani.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2014.
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|a 1 online resource (33 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper investigates financial frictions in US postwar data to understand the interaction between the real business cycle and the credit market. A Bayesian estimation technique is used to estimate a large Vector Autoregression and New Keynesian models demonstrating how financial shocks can have a large and sluggish impact on the economy. I identify the default risk and the maturity mismatch channels of monetary policy transmission; I further employ a generalized-IRF to establish countercyclicality of risk spreads; and I show that the maturity mismatch shocks produce a stronger impact than the default risk shocks.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2014/238
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2014/238/001.2014.issue-238-en.xml
|z IMF e-Library
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