Borradores de Economia
Number:
934
Published:
Classification JEL:
C14, C21, C31, E58, F31
Keywords:
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
The most recent
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Cesar Anzola-Bravo, Poveda-Olarte Paola
In this paper we analyze the effects of nancial constraints on the exchange rate through the portfolio balance channel. Our contribution is twofold: First, we construct a tractable two-period general equilibrium model in which financial constraints inhi