Flutuações endógenas

We pursue the line of research in which we have been working in the past decades. Our aim is to investigate the effects of market distortions and economic policy on the emergence of multiplicity of equilibria, indeterminacy and endogenous cycles,
using general equilibrium macro dynamic models. We plan to develop 3 different but related works: 1-Fiscal rules in the presence of incompressible public expenditures; 2- Sovereign default in a small open economy; 3-Competition in the banking sector: a) Could competition always raise the risk of bank failure? b) Can imperfect competition in the banking sector be a source of macroeconomic instability?