Borradores de Economia
Number:
221
Published:
Classification JEL:
E52, E58, E31
Keywords:
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
The most recent
Carlos David Ardila-Dueñas, Joel Santiago Castellanos-Caballero, Carlos David Murcia-Bustos
Karina Acosta, Jesus Saldaña
Jhorland Ayala-García, Leider Manjarres-Beleño, María Urueta-Polo
This paper studies the performance, in terms of volatility and welfare, of different monetary policy rules in an economy with two market frictions. We consider a financial friction that highlights the credit channel as the monetary transmission mechanism