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Budget Deficit, Money Growth and Inflation: Evidence from the Colombian Case
Lozano, Ignacio - BANCO DE LA REPÚBLICA - 2008
Evidence of the causal long-term relationship between budget deficit, money growth and inflation in Colombia is … relationship between inflation and money growth on the one hand, and between money growth and fiscal deficit, on the other. The …
Persistent link: https://www.econbiz.de/10005597660
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LA META DEL BANCO CENTRAL Y LA PERSISTENCIA DE LA INFLACIÓN EN COLOMBIA
Echavarría, Juan José; Rodríguez, Norberto; Rojas, … - BANCO DE LA REPÚBLICA - 2010
En este documento se estima un modelo econométrico que descompone la seriede inflación trimestral anualizada entre un componente transitorio y otropermanente, este último inducido probablemente por las variaciones en la metadel Banco Central. Se concluye que la persistencia inflacionaria se...
Persistent link: https://www.econbiz.de/10008765704
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House Prices and Monetary Policy in Colombia
Piñeros, Martha López - BANCO DE LA REPÚBLICA - 2006
This paper investigates the possible responses of an inflation-targeting monetary policy in the face of asset price … responds directly to asset price of housing than a policy that reacts only to deviations of expected inflation (CPI) from … target. Some prudential regulation may provide a better outcome in terms of output and inflation variability. …
Persistent link: https://www.econbiz.de/10005768153
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Lack of Credibility, Inflation Persistence and Disinflation in Colombia
Andrés González G.; Hamann, Franz - BANCO DE LA REPÚBLICA - 2011
This paper measures inflation persistence in Colombia for the period 1990-2010 and estimates the implied speed at which … agents learn about the central bank´s inflation target. We estimate Erceg and Levin´s (2003) imperfect credibility model … the inflation target is an important source of inflation persistence. We use the model to compute the sacrifice ratio …
Persistent link: https://www.econbiz.de/10009643481
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Bayesian Model Averaging. An Application to Forecast Inflation in Colombia
González, Eliana - BANCO DE LA REPÚBLICA - 2010
inflation for the short and medium run. A model selection algorithm is applied over a set of linear models with a large dataset …
Persistent link: https://www.econbiz.de/10008465231
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Bayesian Model Averaging. An Application to Forecast Inflation in Colombia
González, Eliana - BANCO DE LA REPÚBLICA - 2010
inflation for the short and medium run. A model selection algorithm is applied over a set of linear models with a large dataset …
Persistent link: https://www.econbiz.de/10008465232
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Bayesian Model Averaging. An Application to Forecast Inflation in Colombia
González, Eliana - BANCO DE LA REPÚBLICA - 2010
inflation for the short and medium run. A model selection algorithm is applied over a set of linear models with a large dataset …
Persistent link: https://www.econbiz.de/10008465233
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LA ECONOMÍA COLOMBIANA: SITUACIÓN ACTUAL FRENTE A LOS NOVENTA Y SUS PERSPECTIVAS
2006, Grupo Macroeconomía - BANCO DE LA REPÚBLICA - 2006
En este documento se hace una evaluación tanto de las fortalezas de la economía colombiana que contribuirían a la sostenibilidad actual del crecimiento, como de los factores de riesgo y vulnerabilidades que podrían afectarlo negativamente. Con este propósito se compara el desempeño...
Persistent link: https://www.econbiz.de/10005597701
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The Effects of Diversification on Banks´ Expected Returns
Estrada, Dairo; Arbeláez, Angela González; Rueda, … - BANCO DE LA REPÚBLICA - 2008
In financial theory, the optimal allocation of assets and its relationship withprofitability has been one of the main concerns; the question has always been ifbanks should focus or diversify their assets. In our case, we would like to answerthis question focusing in diversification of the loan...
Persistent link: https://www.econbiz.de/10005597657
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OUTPOUT GAP ESTIMATION, ESTIMATION UNCERTAINTY AND ITS EFFECT ON POLICY RULES
Julio, Juan Manuel; Gómez, Javier - BANCO DE LA REPÚBLICA - 1999
The authors propose a short run model for the monetary transmission mechanism in which the output gap is modelled as an unobserved variable. By estimating this model using maximum likelihood on a Kalman Filter, the authors find an estimate of the unobserved output gap as well as its estimation...
Persistent link: https://www.econbiz.de/10005196686