Optimal crisis interventions in an open economy with credit constraint
In an open-economy model with collateral constraint, Schmitt-Grohé and Uribe (2016) propose a procyclical policy (it calls for capital controls that are higher during crises than during normal times) that supposedly solves the externality problem that results from the underestimation of the social c...
Autores Principales: | , |
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Formato: | Documento de trabajo (Working Paper) |
Lenguaje: | Inglés (English) |
Publicado: |
Banco de la República de Colombia
2017
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Materias: | |
Acceso en línea: | http://repositorio.banrep.gov.co/handle/20.500.12134/6301 |