Borradores de Economia
Número:
837
Publicado:
Clasificación JEL:
E32, R40, E47, E52
Palabras clave:
Exogenous Bubble, Monetary policy, Macroeconomic volatility, DSGE model
Lo más reciente
Juan Camilo Laborde-Vera
Oscar Iván Ávila-Montealegre, Juan José Ospina-Tejeiro, Anderson Grajales, Mario Andrés Ramos-Veloza
Mario Andrés Ramos-Veloza, Sara Naranjo-Saldarriaga, José Pulido
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