Borradores de Economia
Número:
878
Publicado:
Clasificación JEL:
G11, D86
Palabras clave:
DSGE Modeling, Financial Frictions, Moral Hazard, Macro-Prudential Policies
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Juliana Jaramillo-Echeverri, María Teresa Ramírez-Giraldo
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Leonardo Fabio Morales, Diego Astorga-Rojas, Nicolas Guida-Johnson
This paper presents a DSGE model with banks that face moral hazard in management. Banks receive demand deposits and fund investment projects. Banks are subject to potential withdrawals by depositors which may force them into early liquidation of their inv