Credit Shocks and Monetary Policy in Brazil: A Structural Favar Approach
نویسندگان
چکیده
منابع مشابه
Monetary Policy and Credit Supply Shocks
The depth and duration of the 2007–09 recession serves as a powerful reminder of the real consequences of financial shocks. Although channels through which disruptions in financial markets can affect economic activity are relatively well understood from a theoretical perspective, assessing their quantitative implications for the real economy remains a considerable challenge. This paper examines...
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Price stability has been the foremost task of monetary policy. The information relating to the response of prices to monetary policy shocks is essential for conducting monetary policy in general and for inflation targeting of central banks in particular. Most of the published empirical studies analyze the response of an aggregate price index like CPI or a consumption deflator and their r...
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ژورنال
عنوان ژورنال: Brazilian Review of Econometrics
سال: 2014
ISSN: 1980-2447
DOI: 10.12660/bre.v32n22012.17153