The gilded bubble buffer and optimal macroprudential policy

We provide a microfounded framework for the welfare analysis of macroprudential policy within a model of rational bubbles. For this we posit an overlapping generation model where productivity and credit supply are subject to random shocks. We find that when real interest rates are lower than the rat...

Full description

Autores:

Freixas, Xavier
Pérez Reyna, David Alejandro

Tipo de recurso:

Work document

Fecha de publicación:

2017

Institución:

Universidad de los Andes

Repositorio:

Séneca: repositorio Uniandes

Idioma:

eng

OAI Identifier:

oai:repositorio.uniandes.edu.co:1992/8851

Acceso en línea:

http://hdl.handle.net/1992/8851

Palabra clave:

Bank
Bubble
Macroprudential regulation
Burbujas (Economía)
Precios
Riesgo (Economía)
Política económica
Finanzas internacionales
E44, E60, G18, G21, G28

Rights

openAccess

License

http://creativecommons.org/licenses/by-nc-nd/4.0/