Macroprudential vs. ex-post policy interventions : when domestic taxes are relevant for international lenders

Borradores de Economia
Número: 
879
Publicado: 
Clasificación JEL: 
H23, D62, F34, F41
Palabras clave: 
Financial Crisis, Credit Constraint, capital controls, Macroprudential Tax

Lo más reciente

Leonardo Fabio Morales, Leonardo Bonilla-Mejía, Didier Hermida-Giraldo, Francisco Javier Lasso-Valderrama, José Pulido
Leonardo Fabio Morales, Juan Chaparro-Cardona, Eleonora Dávalos, Nataly Corredor-Martinez

We argue that international lenders take into account that taxes (or subsidies) affect borrowers’income available for debt repayments. Using an endowment-economy model, we show that by incorporating this fact into the analysis of …financial crises from th