Financial-Sector Shocks in a Credit-View Model

Burton Abrams

No 11-01, Working Papers from University of Delaware, Department of Economics

Abstract: A variation of the Bernanke-Blinder credit-view model reveals that holding constant the money supply following various financial-sector shocks, including an autonomous drop in the money multiplier, is insufficient to prevent aggregate demand from decreasing.

Keywords: credit-view model; monetary policy; money-supply model (search for similar items in EconPapers)
JEL-codes: E51 F41 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2011
New Economics Papers: this item is included in nep-ban, nep-cba, nep-mac and nep-mon
References: View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published in Economics Letters, 112, pp. 256–258

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Journal Article: Financial-sector shocks in a credit-view model (2011)
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