Borradores de Economia
Número:
839
Publicado:
Clasificación JEL:
F34, F41, H21
Palabras clave:
Financial Crisis, capital controls, Debt Shocks, Optimal Tax
Lo más reciente
Aarón Levi Garavito-Acosta, Wilmer Martinez-Rivera, Camilo González-Sabogal, Johanna Barbosa-Buitrago, Nathaly Vergel-Serrano
Zhibiao Zhao, Manuel Darío Hernández-Bejarano
Nicol Valeria Rodríguez-Rodríguez, Sebastián Quintero-Uribe, Johanna Barbosa-Buitrago
We study financial crises in a small open production economy subject to credit constraint and uncertainty on the value of debt repayments. We find that the possibility of reducing the severity of future crises encourages the central planner (CP) to increa