Publicação
Macroprudential tax on debt
| datacite.subject.fos | Ciências Sociais::Economia e Gestão | pt_PT |
| dc.contributor.advisor | Silva, André de Castro | |
| dc.contributor.author | Mazzola, Francesco | |
| dc.date.accessioned | 2018-01-15T10:17:07Z | |
| dc.date.available | 2018-06-30T00:30:38Z | |
| dc.date.issued | 2017-06-30 | |
| dc.description.abstract | With the aim of testing macroprudential policies’ effectiveness, this research models a rich and open economy hit by future news shocks about fundamentals and regime switches in global liquidity. Agents take excessive debt to finance current consumption, making the economy more vulnerable to financial crises. Quantitative findings of the simulation shows that a tax on debt, optimally set by a social planner, increases total welfare and decreases the probability and the magnitude of financial crisis. However, it is shown that if news precision increases too much, a tax on debt may be even deleterious because it reduces economic growth. | pt_PT |
| dc.identifier.tid | 201752514 | pt_PT |
| dc.identifier.uri | http://hdl.handle.net/10362/28217 | |
| dc.language.iso | eng | pt_PT |
| dc.subject | macroprudential policy | pt_PT |
| dc.subject | News shocks | pt_PT |
| dc.subject | Fisherian debt effect | pt_PT |
| dc.title | Macroprudential tax on debt | pt_PT |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| rcaap.rights | embargoedAccess | pt_PT |
| rcaap.type | masterThesis | pt_PT |
| thesis.degree.name | A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics | pt_PT |