Martínez, J-F.; Peiris, M. U.; Tsomocos, Dimitrios P. - In: Latin American journal of central banking : LAJCB 1 (2020) 1/4, pp. 1-36
We quantify the effect of macroprudential policy in mitigating domestic and foreign shocks to a small open commodity based economy estimated on Chilean data. The model features a heterogeneous banking sector and includes financial frictions through collateralized borrowing and unsecured loans...