Macroeconomic Modeling of Money, Credit, and Banking

Iman Anabtawi and Gary Smith
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Iman Anabtawi: O'Melveny & Meyers

Eastern Economic Journal, 1994, vol. 20, issue 3, 275-290

Abstract: A supply-and-demand model of deregulated financial markets is compared to deposit-multiplier models, interest-rate reduced forms, the textbook IS-LM model, and a credit-market approach. This model is used to analyze a variety of financial events that simpler models find paradoxical: some events stimulate the economy while contracting M1; open market purchases need not be multiplied by the banking system to be powerful; business-cycle fluctuationg in tax revenue can have strong effects on financial markets; and increased financial intermediation can be contractionary.

Keywords: Credit; M1; Macroeconomics; Money; Multiplier; Supply (search for similar items in EconPapers)
JEL-codes: E51 (search for similar items in EconPapers)
Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:20:y:1994:i:3:p:275-290

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