OJeda, Jair N.; Polanía, Julián A. Parra; Vargas, … - Banco de la Republica de Colombia - 2014
This document analyzes the macroeconomic effects of a boom in a small-open economy’s natural-resource sector. We study the effects of this shock on the most important macroeconomic variables, the resource reallocation across sectors and on welfare under alternative fiscal rules. We employ a...