Asset price bubbles and monetary policy in a small open economy

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Borradores de Economía; No. 837
Date published
2014-08-08
Date of last update
2014-08-08
Author
López-Piñeros, Martha Rosalba
Document language
spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
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
JEL Codes
E47 - Money and Interest Rates: Forecasting and Simulation: Models and ApplicationE32 - Business Fluctuations; CyclesR40 - Transportation Economics: GeneralE52 - Monetary Policy
Keywords
Exogenous bubble ; Monetary policy ; Macroeconomic volatility ; DSGE model ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6124
https://hdl.handle.net/20.500.12134/6124
https://doi.org/10.32468/be.837
https://ideas.repec.org/p/bdr/borrec/837.html
https://ideas.repec.org/p/col/000094/012023.html
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