Monetary Policy and Reserve Requirement in a DSGE Model with Financial Frictions

Monetary Policy and Reserve Requirement in a DSGE Model with Financial Frictions

This paper modifies the DSGE model of Gertler & Karadi (2011), which includes financial frictions on the balance sheet of the financial intermediaries, to introduce reserve requirements that must be held at the Monetary Authority and a confidence shock in the financial system. We analyzed the im...

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Bibliographic Details
Main Authors: José Angelo Divino, Alexandre Kornelius
Format: Article
Language:Portuguese
Published: Universidade de São Paulo 2015-12-01
Series:Economia Aplicada
Subjects:
Financial frictions
Monetary policy
Reserve requirements
Macroprudential policy
Online Access:http://www.revistas.usp.br/ecoa/article/view/110725

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