Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
964135 | Journal of International Money and Finance | 2011 | 23 Pages |
Abstract
⺠We analyze the recent credit crunch with a small open economy DSGE model. ⺠Our model features financial frictions in the form of collateral constraints. ⺠Financial shocks generate non-negligible real and nominal effects. ⺠Estimation (for Poland) shows a substantial quantitative effect of the credit crunch.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
MichaÅ Brzoza-Brzezina, Krzysztof Makarski,