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《Economic Research Journal》 2014-05
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Financial Frictions,Net Worth of Bank and Transmission of International Crisis:Based on Multi-Sector DSGE Model Analysis

Kang Li;Gong Liutang;Guanghua School of Management,Peking University;  
This paper introduces bank capital and financial frictions into an open DSGE model with export goods sector and non-traded goods sector.Then we see how international crisis affects exports goods sector,then transmits to exports goods sector through the net worth of bank.In our model,bank provides credit to both sectors,thus connects them closer.We calibrate the parameter of our model using the data of emerging economies including China.The impulse response of our model tells that when there are financial frictions,export demand shock in export goods sector transmits to non-traded goods sector more intense.And government can use credit policy to offset this disruption.Finally there is a welfare analysis.
【CateGory Index】: F830;F113.7;F224
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【Citations】
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