Financial crises, debt volatility and optimal taxes

We study financial crises in a small open production economy subject to credit constraint and uncertainty on the value of debt repayments. We find that the possibility of reducing the severity of future crises encourages the central planner (CP) to increa

Detalles Bibliográficos
Autores Principales: Parra-Polanía, Julián Andrés, Vargas-Riaño, Carmiña Ofelia
Formato: Documento de trabajo (Working Paper)
Lenguaje:Español (Spanish)
Publicado: Banco de la República 2014
Materias:
Acceso en línea:http://repositorio.banrep.gov.co/handle/20.500.12134/6126