Economic crisis and the financial system amplification effect
A well informed and cautious financial system can improves the welfare outcome of an economy by driving lenders surplus to borrow-ers. Nevertheless in a crisis situation the financial system cautious behavior can become a crisis amplifier given that the credit approval conditions are hardly meet, so...
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| Tipo de recurso: | tesis de maestría |
| Estado: | Versión aceptada para publicación |
| Fecha de publicación: | 2012 |
| País: | Colombia |
| Institución: | Universidad del Rosario |
| Repositorio: | Repositorio EdocUR - U. Rosario |
| Idioma: | español |
| OAI Identifier: | oai:repository.urosario.edu.co:10336/4141 |
| Acceso en línea: | https://doi.org/10.48713/10336_4141 http://repository.urosario.edu.co/handle/10336/4141 |
| Access Level: | acceso abierto |
| Palabra clave: | Crisis financiera Sistema financiero::Modelos Econométricos Equilibrio (Economía)::Modelos Econométricos |
| Sumario: | A well informed and cautious financial system can improves the welfare outcome of an economy by driving lenders surplus to borrow-ers. Nevertheless in a crisis situation the financial system cautious behavior can become a crisis amplifier given that the credit approval conditions are hardly meet, so there could be a credit crunch even in a low interest rates environment. This paper illustrates the previous by developing a general equilibrium model where the collateral credit condition defines the prudential behavior of the financial sys-tem. This and some other conditions amplify the magnitude of a negative productivity shock. |
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