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

2014-08-08

Authors

López-Piñeros, Martha Rosalba

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ISBN

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.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

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

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JEL Codes

E47 - Money and Interest Rates: Forecasting and Simulation: Models and Application
E32 - Business Fluctuations; Cycles
R40 - Transportation Economics: General
E52 - Monetary Policy

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Keywords

Keywords

Exogenous bubble , Monetary policy , Macroeconomic volatility , DSGE model

Citation

URI

https://repositorio.banrep.gov.co/handle/20.500.12134/6124
 https://hdl.handle.net/20.500.12134/6124
 https://ideas.repec.org/p/bdr/borrec/837.html
 https://doi.org/10.32468/be.837

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Esta obra está bajo licencia internacional Creative Commons Reconocimiento-NoComercial 4.0.

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