Hidden Bibliographic Details
| Other authors / contributors: | Kumhof, Michael, author.
Laxton, Douglas, author.
International Monetary Fund. Research Department, issuing body.
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| ISBN: | 1475525079
9781475525076
1475524986
9781475524987
1475586248
9781475586244
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| Notes: | At head of title: Research Department.
"April 2014."
Includes bibliographical references.
English.
Online resource; title from digital title page (IMF.org Web site, viewed 4/14/2014).
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| Summary: | "This paper presents the theoretical structure of MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. In MAPMOD, bank loans create purchasing power that facilitates adjustments in the real economy. But excessively large and risky loans can impair balance sheets and sow the seeds of a financial crisis. Banks respond to losses through higher spreads and rapid credit cutbacks, with adverse effects for the real economy. These features allow the model to capture the basic facts of financial cycles. A companion paper studies the simulation properties of MAPMOD"--Abstract.
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