Carvalho, Carlos; Pasca, Nilda; Souza, Laura; … - Inter-American Development Bank - 2015
quantify the macroeconomic effects of the credit deepening process observed in many Latin American (LA) countries in the last … decade, most notably in Brazil. In the model, a stylized banking sector intermediates credit from patient households to … impatient households and firms. The key novelty of the paper, motivated by the Brazilian experience, is to model the credit …