Identifying monetary policy in a small open economy under flexible exchange rates
نویسندگان
چکیده
منابع مشابه
The Lending Channel in a Small Open Economy Under Predetermined Exchange Rates The lending channel in a small open economy under predetermined exchange rates
Preliminary Draft Comments welcome This paper studies the role of banks in the propagation of nominal shocks in a small open economy. It builds on the framework developed in Edwards and Végh (1997), by relaxing the assumption of perfect asset substitutability between foreign and local bonds. The main results are as follows. Financial liberalization induces a decrease in loan spreads, an expansi...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 1997
ISSN: 0304-3932
DOI: 10.1016/s0304-3932(97)00029-9