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