En este documento se analiza la transmisión de los cambios en la tasa de interés de referencia del Banco de la República hacia las tasas de interés activas del sistema financiero. Para tal efecto se utilizan análisis descriptivo, modelos de regresión, modelos de corte transversal y de...

We study the existence of a monetary policy transmission mechanism through banks in Colombia, using monthly banks’ balance sheet data for the period 1996:4 – 2012:12. We obtain results which are consistent with the basic postulates of the bank lending channel (and the risk-taking channel)...

The economic research of 30 central banks in OECD and Latin America countries from 2000 to 2007 is evaluated in this study. An international comparison based on four indexes that measure central bank research output, demand, productivity and relevance is included. From this view, the European...

Abstract. Our current implementation of the Fan Chart follows the originalBritton Fisher and Whitley [2] and Blix and Sellin [1] proposal in which theinputs enter at the fourth and ninth quarters and are distributed within theforecasting horizon according to pre established weights. This...

Las transferencias de fondos que se realizan entre los participantes en un sistema de pagos conformanredes de valor que, por su naturaleza, están expuestas a riesgos financieros de diverso género y, enparticular, al potencial de riesgo sistémico.La incidencia que ello tendría sobre la...

In this paper we find empirical evidence of bank lending channel for Colombia, using a balanced panel data of about four thousand non-financial firms. We find that increases in the interest rate, proxiing for the monetary policy instrument, lead to a reduction in the proportion of bank loans,...