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Domestic financial frictions and the transmission of foreign shocks in Chile
(Banco Central de Chile, 2015)
Financial frictions, informality and income inequality
(2014-12-12)
We studied the effects of changes in banking spreads on distributions of income, wealth and consumption as well as the welfare of the economy. This analysis was based on a model of heterogeneous agents with incomplete ...
Essays on labor market frictions and international finance
(Universidad de Chile, 2022)
This dissertation is a collection of essays focusing on a broad sense Macroeconomics. Through its two chapters, this thesis reviews topics in labor and credit market frictions, capital-embodied technological change, as ...
Fiscal Multipliers and Balance Sheet Effects in a Small Open Economy
Fiscal multipliers are different across countries and according to economic circumstances. Investment multipliers have recently been subjects of analysis, especially for advanced economies. For small open economies, such ...
Essays on heterogeneous agent models with entrepreneurship
(2018-04-12)
This thesis is composed of three essays related to heterogeneous agent models with entrepreneurship. The first chapter adds aggregate uncertainty in a heterogeneous agent model with entrepreneurship and financial frictions, ...
Equilibria in exchange economies with financial constraints: beyond the Cass trick
(Escola de Pós-Graduação em Economia da FGV, 2005-08-05)
We consider an exchange economy under incomplete financiaI markets with purely financiaI securities and finitely many agents. When portfolios are not constrained, Cass [4], Duffie [7] and Florenzano-Gourdel [12] proved ...
On the distributive impact of unconventional monetary policy
(2016-05-05)
Logo após à crise financeira de 2007-08 o Federal Reserve interveio para tentar controlar a recessão. No entanto, ele não apenas baixou os juros, como também adotou políticas não-convencionais, incluindo o empréstimo direto ...
Deviations from covered interest parity: the role played by fundamentals, financial and political turmoils and market frictions
(2019-05)
Recent works for mature markets on covered interest parity suggest that deviations are mean reverting but persistent particularly after 2008 crisis (Du et al., 2018). Our study aims to contribute to the literature by ...
Financial disruption as a cost of sovereign default
(2014-01-24)
Este trabalho analisa de forma quantitativa os custos para a economia de um default soberano, num modelo onde bancos comprados em d´ıvida tˆem um papel central na intermedia¸c˜ao financeira para os investimentos do setor ...
Essays on fiscal policy and public debt
(2017-11-28)
This thesis is composed of three essays related to fiscal policy and public debt. The first chapter analyses quantitatively the relevance of different fiscal policy responses to a debt restructuring episode, taking into ...