González, Andrés; Ocampo, Sergio; Pérez, Julián; … - BANCO DE LA REPÚBLICA - 2012
In this paper two new measures of the Colombian output gap and the real neutral interest rate are proposed. Instead of … economy. The output gap measures presented are in line with previous works for Colombia and capture all the turning points of … overall countercyclical, but has failed to anticipate the output gap´s movements, or at least react strongly enough to them. …