1.
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This paper presents a general equilibrium model with endogenous collateral constraints to study the relationship between financial development and business cycle fluctuat[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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2.
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This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the eco[...]
2012 | Text | Staff Working Paper - Document de travail du personnel |
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3.
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This paper examines the interaction between monetary policy and macroprudential policy and whether policy makers should respond to financial imbalances. To address this i[...]
2012 | Text | Staff Working Paper - Document de travail du personnel |
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4.
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The authors explore the usefulness of macroeconomic models in analyzing global economic developments by examining movements in commodity prices between July 2007 and July[...]
2009 | Text | Staff Discussion Paper - Document d’analyse du personnel |
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