... interbank aswell as lending markets. Credit spreads determined in the markets are a¤ected by the borrow-ers’creditworthiness and degree of informational friction in the credit markets. Focusing onthe ... prediction. In case iv, agents accurately predict that size of18 Financial Markets, Monetary Policy and Reference Rates: Assessments in DSGE Framework Nao Sudo ... Contracts and Financial Accelera-tors,”Discussion Paper Series 2009-E-30, Bank of Japan.[14] Hirakata, N., Sudo, N. Ueda, K. (2011a) “Capital Injection, Monetary Policy, and Financial Accelerators,”Discussion...