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

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Borradores de Economía; No. 879
Date published
2015-04-13
Date of last update
2015-04-13
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 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
JEL Codes
F34 - International Lending and Debt ProblemsH23 - Externalities; Redistributive Effects; Environmental Taxes and SubsidiesD62 - ExternalitiesF41 - Open Economy Macroeconomics
Keywords
Financial crisis ; Credit constraint ; Capital controls ; Macroprudential tax ; Exchange rate policy ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6168
https://hdl.handle.net/20.500.12134/6168
https://doi.org/10.32468/be.879
https://ideas.repec.org/p/bdr/borrec/879.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