Financial crises, debt volatility and optimal taxes

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Borradores de Economía; No. 839
Date published
2014-08-13
Date of last update
2014-08-13
Author
Parra-Polanía, Julián Andrés
Vargas-Riaño, Carmiña Ofelia
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
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
JEL Codes
H21 - Efficiency; Optimal TaxationF41 - Open Economy MacroeconomicsF34 - International Lending and Debt Problems
Keywords
Financial crisis ; Capital controls ; Debt shocks ; Optimal tax ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6126
https://hdl.handle.net/20.500.12134/6126
https://doi.org/10.32468/be.839
https://ideas.repec.org/p/bdr/borrec/839.html
https://ideas.repec.org/p/col/000094/012027.html
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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit