A small open economy model of unconventional monetary policies

Available from: 
October 2013
Paper author(s): 
Carlos Armando de Jesus Cantu Garcia (University of California)
Topic: 
Macroeconomics - Economic growth - Monetary Policy
Year: 
2013


In this paper a small open economy model with financial frictions, where a central bank can use unconventional monetary policies, is presented. These types of monetary policies are unconventional in the sense that they are a departure from policy implementation beyond the managment of interest rates. There are two types of unconventional monetary policies analyzed. The first one is the intervention of the central bank in credit markets by facilitating lending to the non-financial firms. The second one is the use of the international reserves in order to intervene in the foreign exchange market.

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Research section: 
Lacea 2013 annual meeting
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