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Monetary policy, financial dollarization and agency costs (Capítulo)
(Universidad del Pacífico, 2016-04)
Acceso abierto
This chapter models an emerging economy with financial dollarization features within an optimizing, stochastic general equilibrium setup. One key result in this framework is that unexpected nominal exchange rate fluctuations ...
Cyclical effects of credit conditions in a small open economy: the case of Peru (Capítulo)
(Universidad del Pacífico, 2016-04)
Acceso abierto
In this chapter we extend a new Keynesian open economy model to include a housing market and credit constraints in line with Iacoviello (2005). This setup allows us to study the effect of changes in credit conditions, ...