Financial frictions and optimal monetary policy in a small open economy

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Borradores de Economía; No. 852
Date published
2014-11-13
Date of last update
2014-11-13
Author
Bejarano, Jesus
Charry-Velásquez, Luisa Fernanda
Document language
spa
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Abstract
In this paper we set up a small open economy model with financial frictions, following Curdia and Woodford (2010)’s model. Unlike other results in the literature such as Curdia and Woodford (2010), McCulley and Ramin (2008) and Taylor (2008), we find that
JEL Codes
E58 - Central Banks and Their PoliciesE44 - Financial Markets and the MacroeconomyE50 - Monetary Policy, Central Banking, and the Supply of Money and Credit: GeneralE52 - Monetary PolicyF41 - Open Economy Macroeconomics
Keywords
Financial frictions ; Optimal interest rate rules ; Interest rate spreads ; Welfare ; Small open economy ; Second order approximation ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6140
https://hdl.handle.net/20.500.12134/6140
https://doi.org/10.32468/be.852
https://ideas.repec.org/p/bdr/borrec/852.html
https://ideas.repec.org/p/col/000094/012316.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