Macro-prudential policy under moral hazard and financial fragility

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Borradores de Economía; No. 878

Date published

2015-04-10

Date

2015-04-10

Authors

Arango-Arango, Carlos Alberto
Valencia-Arana, Oscar Mauricio

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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

This paper presents a DSGE model with banks that face moral hazard in management. Banks receive demand deposits and fund investment projects. Banks are subject to potential withdrawals by depositors which may force them into early liquidation of their inv

Description

JEL Codes

G11 - Portfolio Choice; Investment Decisions
O33 - Technological Change: Choices and Consequences; Diffusion Processes
D86 - Economics of Contract: Theory

Temática

Keywords

Keywords

DSGE modeling , Financial frictions , Moral hazard , Macro-prudential policies

Citation

URI

https://repositorio.banrep.gov.co/handle/20.500.12134/6167
 https://hdl.handle.net/20.500.12134/6167
 https://ideas.repec.org/p/bdr/borrec/878.html
 https://doi.org/10.32468/be.878

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

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