LEADER 05692oam 22012374 450 001 9910961805403321 005 20250426110824.0 010 $a9786612843372 010 $a9781462317431 010 $a146231743X 010 $a9781452763187 010 $a1452763186 010 $a9781282843370 010 $a1282843370 010 $a9781451872705 010 $a1451872704 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(IMF)WPIEE2009123 035 $a(MiAaPQ)EBC1608321 035 $a(IMF)WPIEA2009123 035 $aWPIEA2009123 035 $a(EXLCZ)993170000000055279 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aModeling with Macro-Financial Linkages : $eCredit and Policy Shocks in Emerging Markets /$fJaromir Benes, Inci Ötker, David Vávra 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (36 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781451916997 311 08$a145191699X 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 3 $aThis paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an emerging market economy where policymakers are concerned about risks associated with rapid credit growth, financial dollarization, and foreign borrowing, while lacking traditional tools to effect monetary policy transmission, and hence could resort to more direct instruments, such as foreign exchange market intervention and regulatory and administrative measures. Calibrating the model to a stylized emerging European economy, the paper simulates real and financial sector implications of various external and policy-related shocks that could be used as input for monetary policy making. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/123 606 $aMicrofinance 606 $aFinancial crises 606 $aBank credit$2imf 606 $aBanking$2imf 606 $aBanks and Banking$2imf 606 $aBanks and banking$2imf 606 $aBanks$2imf 606 $aConsumption$2imf 606 $aCredit$2imf 606 $aDepository Institutions$2imf 606 $aEconomics$2imf 606 $aFinancial Institutions and Services: General$2imf 606 $aFinancial sector$2imf 606 $aFinancial services industry$2imf 606 $aIndustries: Financial Services$2imf 606 $aMacroeconomics$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aMicro Finance Institutions$2imf 606 $aMonetary economics$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMortgages$2imf 606 $aSaving$2imf 606 $aWealth$2imf 607 $aUnited Kingdom$2imf 615 0$aMicrofinance. 615 0$aFinancial crises. 615 7$aBank credit 615 7$aBanking 615 7$aBanks and Banking 615 7$aBanks and banking 615 7$aBanks 615 7$aConsumption 615 7$aCredit 615 7$aDepository Institutions 615 7$aEconomics 615 7$aFinancial Institutions and Services: General 615 7$aFinancial sector 615 7$aFinancial services industry 615 7$aIndustries: Financial Services 615 7$aMacroeconomics 615 7$aMacroeconomics: Consumption 615 7$aMicro Finance Institutions 615 7$aMonetary economics 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aMoney and Monetary Policy 615 7$aMortgages 615 7$aSaving 615 7$aWealth 676 $a330;332.1 700 $aBenes$b Jaromir$0866239 701 $aVávra$b David$01092774 701 $aÖtker$b Inci$01092773 801 0$bDcWaIMF 906 $aBOOK 912 $a9910961805403321 996 $aModeling with Macro-Financial Linkages$94371090 997 $aUNINA