Relevance of the fiscal-policy setup in the analysis of macroprudential and ex-post financial crisis interventions

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Borradores de Economía; No. 945
Date published
2016-06-07
Date of last update
2016-06-07
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
In a previous paper (Parra-Polania and Vargas, 2015) we modify the ?nancial constraint of a very standard model to incorporate the fact that international lenders take into account that taxes (or subsidies) a¤ect borrowers?income available for debt repaym
JEL Codes
D62 - ExternalitiesE62 - Fiscal PolicyF34 - International Lending and Debt ProblemsF41 - Open Economy MacroeconomicsH23 - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Keywords
Financial crisis ; Fiscal policy ; Credit constraint ; Macroprudential tax ; Ex-post policy ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6256
https://hdl.handle.net/20.500.12134/6256
https://doi.org/10.32468/be.945
https://ideas.repec.org/p/bdr/borrec/945.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