Imperfection in the credit market - Mehdi Mahmoudi
The aim of this paper is to show the importance of the credit channel in the transmission of monetary policy, and the impact of monetary policy on economic activity. The first part of the paper reviews the theoretical literature on credit market imperfections and monetary policy transmission mechanisms. The second part outlines the channels through which monetary policy is transmitted, while the final part focuses on the transmission of monetary policy in Tunisia.
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