Ojeda, Jair N.; Parra-Polanía, Julián A.; Vargas, … - BANCO DE LA REPÚBLICA - 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...