Credit channel without the LM curve

Authors

  • Victorio Y. T. Chu Banco Central do Brasil
  • Marcio I. Nakane Banco Central do Brasil

DOI:

https://doi.org/10.11606/1413-8050/ea218840

Keywords:

credit channel, IS-LM model, interest rate instrument, required reserves, bank spread

Abstract

This paper extends Bernanke and Blinder (1988)'s macroeconomic model of credit channel to an environment where the monetary authority has control over a short-term interest rate. The comparative statics regarding changes in the market interest rate, in the required reserve ratio over bank deposits, and in the risk of public bonds are highlighted.

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Published

2001-02-10

Issue

Vol. 5 No. 1 (2001)

Section

Notas

License

Copyright (c) 2001 Economia Aplicada

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

How to Cite

Chu, V. Y. T. ., & Nakane, M. I. . (2001). Credit channel without the LM curve. Economia Aplicada, 5(1), 213-227. https://doi.org/10.11606/1413-8050/ea218840