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Asset Price Bubbles and Monetary Policy in a Small Open Economy

Martha Rosalba
López-Piñeros
Viernes, 1 Agosto 2014

In this paper we expanded the closed economy model by Bernanke and Gertler (1999) in order to account for the macroeconomic effects of an asset price bubble in the context of a small open economy model. During the nineties emerging market economies opened