A General Equilibrium Model with Informal Financial Markets [electronic resource] - Washington, D.C. : International Monetary Fund, 1991. - 1 online resource (50 p.) - IMF Working Papers; Working Paper ; No. 91/18 . - IMF Working Papers; Working Paper ; No. 91/18 .

The paper presents a general equilibrium framework for short-run macroeconomic analysis in a developing country context where controls on interest rates and foreign exchange restrictions lead to the emergence of informal financial markets. The complexity of the model precludes an analytical treatment. A simulation approach, based on parameters derived from estimates in the existing literature, is used to assess the properties of the model, which differ in important ways from those of standard open-economy models.

1451843577 : 15.00 USD

1018-5941

10.5089/9781451843576.001 doi


Bank Credit
Bank Deposits
Exchange Rate
Foreign Exchange
Parallel Exchange Rate


Dominican Republic
India
Korea, Republic of

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