LEADER 03585nam 2200613Ia 450 001 9910464001003321 005 20170821160658.0 010 $a1-4623-1743-X 010 $a1-4527-6318-6 010 $a1-282-84337-0 010 $a1-4518-7270-4 010 $a9786612843372 035 $a(CKB)3170000000055279 035 $a(EBL)1608321 035 $a(SSID)ssj0000944172 035 $a(PQKBManifestationID)11944115 035 $a(PQKBTitleCode)TC0000944172 035 $a(PQKBWorkID)10982733 035 $a(PQKB)11118107 035 $a(OCoLC)550660965 035 $a(MiAaPQ)EBC1608321 035 $a(EXLCZ)993170000000055279 100 $a20041202d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aModeling with macro-financial linkages$b[electronic resource] $ecredit and policy shocks in emerging markets /$fprepared by Jaromi?r Benes?, I?nci O?tker-Robe, and David Va?vra 210 $a[Washington D.C.] $cInternational Monetary Fund$d2009 215 $a1 online resource (36 p.) 225 1 $aIMF working paper ;$vWP/09/123 300 $aDescription based upon print version of record. 311 $a1-4519-1699-X 320 $aIncludes bibliographical references. 327 $aContents; 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 Shocks 327 $a2. 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; Reference 330 $aThis paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an emerging market economy where policymakers are concerned about risks associated with rapid credit growth, financial dollarization, and foreign borrowing, while lacking traditional tools to effect monetary policy transmission, and hence could resort to more direct instruments, such as foreign exchange market intervention and regulatory and administrative measures. Calibrating the m 410 0$aIMF working paper ;$vWP/09/123. 606 $aMicrofinance 606 $aFinancial crises 608 $aElectronic books. 615 0$aMicrofinance. 615 0$aFinancial crises. 700 $aBenes?$b Jaromi?r$f1973-$0866239 701 $aO?tker$b I?nci$0872376 701 $aVa?vra$b David$0872377 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464001003321 996 $aModeling with macro-financial linkages$91947652 997 $aUNINA