Collateralized Assets Prices and Monetary Policy

Autor:	Mauricio Arango
Jazyk:	English<br />Spanish; Castilian
Rok vydání:	2019
Předmět:	Monetary policy credit collateralized assets general equilibrium Economics as a science HB71-74
Zdroj:	Revista de Economía del Rosario, Vol 22, Iss 2 (2019)
Druh dokumentu:	article
ISSN:	0123-5362 2145-454X
DOI:	10.12804/revistas.urosario.edu.co/economia/a.8116
Popis:	A well-informed and cautious financial system can improve the welfare outcome of an economy by making lenders surplus to borrowers. Nevertheless, in a crisis, the behavior of the financial system can become an amplifier of it, given that credit approval conditions rarely meet the standards. Therefore, a credit crunch may occur even in a low-interest ra- tes environment. This paper illustrates the aforementioned point by developing a general equilibrium model where the collateral credit condition defines the prudential behavior of the financial system. It and other conditions amplify the magnitude of a negative pro- ductivity shock
Databáze:	Directory of Open Access Journals
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