VEC Models

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  • Foreign Debt Flows and the Credit Market: A Principal Agent Approach

    Publicación |

    As has been documented in different studies, there is a close relationship between capital flows and domestic credit. This relationship emerges from different channels, which are usually not directly identified. In this paper, a principal-agent approach is proposed in order to disentangle the…

  • Foreign Debt Flows and Domestic Credit: A Principal-Agent Approach

    Publicación |

    The relationship between capital ows and domestic credit emerges from dierent channels which are usually not directly identied. In this paper, a principal-agent approach is proposed in order to disentangle the channels through which shocks on capital debt ows can aect credit-related…