Número:
531
Publicado:
Clasificación JEL:
E32, E44, E52, F41
Palabras clave:
Financial intermediation, Small open economy, dynamic stochastic general equilibrium model, Monetary policy
Lo más reciente
Lukas Delgado-Prieto, Andrea Sofía Otero-Cortés, Andrés Calderón
Julián Andrés Parra-Polanía, Carmiña Ofelia Vargas-Riaño
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