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Collateralized assets prices and monetary policy

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  • Mauricio Arango

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Abstract

Un Sistema financiero informado y cauteloso puede mejorar el bienestar de una sociedad trasladando los excedentes de los ahorradores a los prestatarios. Sin embargo, el comportamiento del sistema financiero en situaciones de crisis puede actuar como un amplificador de las fluctuaciones negativas. Lo último se debe a que, en situaciones de crisis, las condiciones para ser sujeto de crédito son más difíciles de cumplir. Es por esto que una caída en los créditos puede ocurrir inclusive con tasa de interés bajas. Este trabajo ilustra las dinámicas mencionadas en un modelo dinámico estocástico de equilibrio general

Suggested Citation

  • Mauricio Arango, 2014. "Collateralized assets prices and monetary policy," DOCUMENTOS DE DISCUSION FLAR 011853, FONDO LATINO AMERICANO DE RESERVAS - FLAR.
  • Handle: RePEc:col:000470:011853
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    File URL: https://www.flar.net/documentos/8111_DD_FLAR_06_2014.pdf
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