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dc.contributor.authorMalmierca Ordoqui, María
dc.date.accessioned2022-09-16T08:47:07Z
dc.date.available2022-09-16T08:47:07Z
dc.date.issued2020
dc.identifier.citationMalmierca, María, Stabilization and the Policy Mix in a Monetary Union (February 20, 2020). Available at SSRN: https://ssrn.com/abstract=3541772es
dc.identifier.urihttp://hdl.handle.net/20.500.12766/381
dc.description.abstractThe need for macroprudential policy to “lean against the wind” of credit cycles at the aim of financial and hence macroeconomic stability is a common belief. Which design of macroprudential policy might attain the greatest stability for the economy is still an open debate. This paper builds a two-country DSGE model for a monetary union and analyzes, through different macroprudential scenarios, the response of the main variables to an asymmetric credit risk shock. When national macroprudential policies are implemented, macroeconomic and financial stability is reached in both countries, mainly due to the cancellation of the private-public debt channel. When macroprudential policies are supranational, macroeconomic stability is higher in the country that suffers the shock while the other country is destabilized, mainly due to the open economy channel.es
dc.language.isoenges
dc.publisherSSRNes
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internacional*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.titleStabilization and the Policy Mix in a Monetary Uniones
dc.typepreprintes
dc.description.departmentEducaciónes
dc.identifier.doi10.2139/ssrn.3541772
dc.rights.accessRightsopen accesses
dc.subject.areaEconomía Aplicadaes
dc.subject.keywordCurrency areaes
dc.subject.keywordMacroprudentiales
dc.subject.keywordMonetary and fiscal policieses
dc.subject.keywordFinancial frictionses
dc.subject.keywordPublic and private debtes


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Attribution-NonCommercial-NoDerivatives 4.0 Internacional
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 Internacional