Series: IMF Working Papers
Author(s): Yuanyan Zhang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 2011
Keywords: investment, exchange rate, credit market, business cycle, net worth, Credit Market Imperfection, Secoral Asymmetry, Macroeconomics And Monetary Economics, Macroeconomic Aspects Of International Trade And Finance,
This paper analyzes the role of credit market imperfection and sectoral asymmetry as a means through which shocks to the real economy are propagated and amplified. Drawing on firm-level data to calibrate the model,...