%0 Journal Article
%T El sistema crediticio, la pol¨ªtica monetaria y un posible origen de ciclos y crisis financieras: A Possible Source of Fluctuations and Financial Crisis
%A Arango
%A Mauricio
%A Posada
%A Carlos Esteban
%A Tamayo
%A Jorge Andr¨¦s
%J Ensayos sobre POL¨ªTICA ECON¨®MICA
%D 2011
%I Scientific Electronic Library Online
%X the credit market has played an important role in the recent financial crisis and recession of the u. s. economy. looking for an explanation about it we built and used a macroeconomic model with a credit market to describe a gdp cycle and a rise and decline of the collateralized asset price related to banking and monetary policies. this paper presents the model and several simulations from it to assess the roles of each one.
%K business cycles
%K bubbles
%K credit constraints
%K collateral constraint
%K monetary policy.
%U http://www.scielo.org.co/scielo.php?script=sci_abstract&pid=S0120-44832011000100003&lng=en&nrm=iso&tlng=en