03585nam 2200613Ia 450 991046400100332120170821160658.01-4623-1743-X1-4527-6318-61-282-84337-01-4518-7270-49786612843372(CKB)3170000000055279(EBL)1608321(SSID)ssj0000944172(PQKBManifestationID)11944115(PQKBTitleCode)TC0000944172(PQKBWorkID)10982733(PQKB)11118107(OCoLC)550660965(MiAaPQ)EBC1608321(EXLCZ)99317000000005527920041202d2009 uf 0engur|n|---|||||txtccrModeling with macro-financial linkages[electronic resource] credit and policy shocks in emerging markets /prepared by Jaromír Beneš, İnci Ötker-Robe, and David Vávra[Washington D.C.] International Monetary Fund20091 online resource (36 p.)IMF working paper ;WP/09/123Description based upon print version of record.1-4519-1699-X Includes bibliographical references.Contents; I. Introduction and Motivation; II. The Model with Financial Intermediation and Frictions; A. The Basic Structure of the Model; B. Description of the Model's Micro Foundations; C. Main Characteristics of Policy Transmission; III. Model Calibration and Properties; A. Parameterizing Steady State; Tables; 1. List of Main Behavioral Parameters and Their Baseline Calibration; B. Parameterizing Transitory Dynamics and Stochastic Properties; IV. Using the Model-Based Framework for Policy Analysis-Implications of a Credit Crunch; A. Credit Crunch Induced by Exogenous Shocks2. The Simulated Effects of the Exogenously Induced Credit Supply ShocksFigures; 1. Simulated Effects of the Exogenously Induced Credit Crunch Shock; B. Policy Induced Credit Crunch; 3. The Simulated Effects of the Policy Shocks to Credit Supply: Priced-based Credit Measures; 2. Simulated Effects of the Price-Based Credit Measures; 4. The Simulated Effects of the Individual Policy Shocks to Credit Supply: Credit Growth Controls; 3. Simulated Effects of the Direct Credit Controls; V. Conclusions and Policy Implications; ReferenceThis 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 mIMF working paper ;WP/09/123.MicrofinanceFinancial crisesElectronic books.Microfinance.Financial crises.Beneš Jaromír1973-866239Ötker İnci872376Vávra David872377MiAaPQMiAaPQMiAaPQBOOK9910464001003321Modeling with macro-financial linkages1947652UNINA