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
Juliana Jaramillo-Echeverri, María Teresa Ramírez-Giraldo
Aarón Levi Garavito-Acosta, Wilmer Martinez-Rivera, Juan J. Ospina-Tejeiro, Edgar Caicedo-García
Leonardo Fabio Morales, Diego Astorga-Rojas, Nicolas Guida-Johnson
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