Narrow search
Showing 1 - 10 of 78
Cover Image
Budget Deficit, Money Growth and Inflation: Evidence from the Colombian Case
Lozano, Ignacio - Banco de la Republica de Colombia
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 … analyzed in this paper, considering the standard (M1), the narrowest (M0-Base) and the broadest (M3) definitions of money …
Persistent link: https://www.econbiz.de/10005274432
Cover Image
Testable Restrictions of General Equilibrium Theory in Exchange Economies with Externalities
Carvajal, Andrés - Banco de la Republica de Colombia
The theory of general equilibrium was criticized for its apparent lack of testable implications,as seemingly implied by the results of Sonnenschein, Mantel and Debreu in the Seventies. This view was challenged by the results of Brown and Matzkin (1996) which showed the existence of testable...
Persistent link: https://www.econbiz.de/10005489391
Cover Image
Un "Choque" del Activo Externo Neto y el Ciclo Económico Colombiano
Gómez, Wilman; Posada, Carlos Esteban - Banco de la Republica de Colombia
El período 1994-2001 correspondió al de un ciclo de la economía colombiana, especialmente intenso sobretodo en lo que se refiere a la magnitud de la depresión ocurrida entre 1998 y 2001. En el presente documento se describe la construcción y el uso de un modelo de equilibrio general...
Persistent link: https://www.econbiz.de/10005113952
Cover Image
Crecimiento Económico y Gasto Público: Un Modelo para el Caso Colombiano
Posada, Carlos Esteban; Gómez, Wilman - Banco de la Republica de Colombia
La tasa de crecimiento económico puede estar positivamente relacionada con el gasto público en capital humano e infraestructura física. pero el gasto público tiene un costo de oportunidad, así que debe existir un nivel óptimo de tal gasto. En este documento se presenta un modelo de...
Persistent link: https://www.econbiz.de/10005783897
Cover Image
Gender Differences in Risk Aversion: Do Single-Sex Environments Affect their Development?
Booth, Alison L.; Cardona-Sosa, Lina; Nolen, Patrick - Banco de la Republica de Colombia - 2013
Single-sex classes within coeducational environments are likely to modify students' risk-taking attitudes in economically important ways. To test this, we designed a controlled experiment using first year college students who made choices over real-stakes lotteries at two distinct dates....
Persistent link: https://www.econbiz.de/10010906080
Cover Image
Operational Risk Management using a Fuzzy Logic Inference System
Reveiz, Alejandro; León, Carlos - Banco de la Republica de Colombia
Operational Risk (OR) results from endogenous and exogenous risk factors, as diverse and complex to assess as human resources and technology, which may not be properly measured using traditional quantitative approaches. Engineering has faced the same challenges when designing practical solutions...
Persistent link: https://www.econbiz.de/10008854667
Cover Image
Índice de Precios de la Vivienda Nueva para Bogotá: Metodología de Precios Hedónicos
Castaño, Jessica; Laverde, Mariana; Mosquera, Miguel … - Banco de la Republica de Colombia
En este documento se presenta un índice de precios de vivienda nueva ajustado por cambios en la calidad de los inmuebles para la ciudad de Bogotá. Para ello se utilizó la base de datos de La Galería Inmobiliaria para el período 2003-2013. El indicador se construyó utilizando el modelo...
Persistent link: https://www.econbiz.de/10010906100
Cover Image
A Historical Analysis of Central Bank Independence in Latin America: The Colombian Experience, 1923-2008
Meisel, Adolfo; Barón, Juan D. - Banco de la Republica de Colombia
This paper explores the relationship between central bank independence and inflation in Latin America, using as a case … recovered its independence and its focus on price stability. Inflation varied substantially during these subperiods. The …
Persistent link: https://www.econbiz.de/10005014560
Cover Image
Inflación y expectativas de inflación en Colombia
González, Eliana; Jalil, Munir; Romero, José Vicente - Banco de la Republica de Colombia
En este documento se desarrolla una exploración empírica sobre la información contenida en las expectativas de inflación obtenidas tanto directa (a través de encuestas) como indirectamente (implícitas en el mercado de deuda pública). Para esto, se realizan pruebas de insesgamiento y...
Persistent link: https://www.econbiz.de/10010540958
Cover Image
The Effect of Monetary Policy on Commodity Prices: Disentangling the Evidence for Individual Prices
Cabrales, Carolina Arteaga; Castro, Joan Camilo Granados; … - Banco de la Republica de Colombia - 2011
In this paper we study the effect of monetary policy shocks on commodity prices. While most of the literature has found that expansionary shocks have a positive effect on aggregate price indices, we study the effect on individual prices of a sample of four commodities. This set of commodity...
Persistent link: https://www.econbiz.de/10009404551