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| Tekijä: | Fisher, J. |
| Otsikko: | Credit market imperfections and the heterogeneous response of firms to monetary shocks |
| Lehti: | Journal of Money, Credit and Banking
1999 : MAY, VOL. 31:2, p. 187-211 |
| Asiasana: | CREDIT MARKETS COMPANIES MONETARISM |
| Kieli: | eng |
| Tiivistelmä: | This paper assesses the bank-lending channel interpretation of evidence on the heterogeneous response of firms to monetary shocks. To do so the author develops a quantitative general equilibrium model of the bank-lending channel with imperfect credit markets. The calibrated model's steady state supports a common identification strategy adopted in the literature: small firms are credit constrained and large firms are not. |
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