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This study examines whether and how important it is to adjust output gap frameworks during the COVID-19 pandemic and similar unprecedentedly large-scale episodes. Our proposed modelling framework comprises a Bayesian Structural Vector Autoregresion with an identification setup based on a...
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the compulsory requirement of reserves. The model is calibrated to match key steady-state ratios of Colombia and is used …
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Since 1991, inflation in Colombia was reduced from 25% on average to about 6% more recently. Although this performance …
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I study the economies of Colombia (floating exchange rate) and Panama (dollarized) to illustrate how the monetary …
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