SHERP

Aggregate Output and Price Adjustment with Credit Rationing and Informal Loan Markets

Cited 0 time in webofscience Cited 0 time in scopus
Authors
Agenor, Pierre-Richard
Issue Date
1989
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 2 (No. 1 1989): 53-68
Keywords
cost push; less developed contries; SURE procedure
Abstract
A macroeconomic model of output and price adjustment for a semi-industrialized developing country with informal loan markets is presented and tested. The model is based on the microfoundations of firm behaviour under monopolistic competition and bank credit rationing. Empirical results for three Latin American countries (Brazil, Colombia, and Peru) provide no support to the "cost push" effect of restrictive monetary policy, as recently emphasized in the literature.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/859
Files in This Item:
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.02(1) (Spring 1989)
  • mendeley

Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.

Browse