THE COLOMBIAN BANKING CRISIS: THE COLOMBIAN BANKING CRISIS: Macroeconomic Consequences and What to Expect Andres F. Arias */
Andres Felipe Arias
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I build a general equilibrium, financial accelerator model that incorporates an explicit technology for the intermediary sector. A credit multiplier emerges because of a borrowing constraint that is a function of asset prices, internal funds and lending rates. With this financial friction I show…
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Monetary neutrality in the colombian Monetary neutrality in the Colombian real exchange rate
