Borradores de Economia
Number:
531
Published:
Classification JEL:
E32, E44, E52, F41
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 analyses the role of a costly financial system in the transmission of monetary policy. The new-keynesian model for a small open economy is extended with a simple financial system based on Hamann and Oviedo (2006). The presence of the financial