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Financial Frictions and Unconventional Monetary Policy in Emerging Economies

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NBER2016-02-01 更新2025-01-04 收录
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We analyze conventional and unconventional monetary policies in a dynamic small open-economy model with financial frictions. In the model, financial intermediaries or banks borrow from the world market and lend to domestic households. Banks can borrow abroad up to a multiple of their equity; in turn

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2016-02-01
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