Credit and Banking in a DSGE model
Stefano Neri (),
Federico Signoretti and
Andrea Gerali ()
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Luca Sessa: Bank of Italy
Federico Signoretti: Bank of Italy
No 586, 2009 Meeting Papers from Society for Economic Dynamics
euro area banking rates, this attenuator effect can be sizeable but short-lived. The model also allows analyzing the consequences of a tightening of credit conditions that reduces the supply of credit and increases banks' interest rates independently of monetary policy. In such a scenario, the greatest contribution to the negative effects on output components comes from spillovers from the tightening on firms.
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