Compare the impact of a given change in monetary policy in two economies that are similar in

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Compare the impact of a given change in monetary policy in two economies that are similar in every way except that, in Economy A, the financial system has a large shadow banking system providing many alternatives to bank financing, while in Economy B, bank loans account for almost all of the financing in the economy.

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Money Banking and Financial Markets

ISBN: 978-0078021749

4th edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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