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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 …
Persistent link: https://www.econbiz.de/10005274432
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Regulación y supervisión: La otra cara de la política monetaria
Cano, Carlos Gustavo - Banco de la Republica de Colombia
La mayoría de los primeros bancos centrales que surgieron en el planeta ejercía ciertas formas incipientes de regulación y supervisión de los bancos comerciales. Posteriormente, algunos países optaron por depositar esa responsabilidad en agencias gubernamentales especializadas, entre ellos...
Persistent link: https://www.econbiz.de/10005274448
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Authority Centrality and Hub Centrality as metrics of systemic importance of financial market infrastructures
Rincón, Carlos Eduardo León; Villalobos, Jhonatan Pérez - Banco de la Republica de Colombia - 2013
Network analysis has been applied to identify systemically important financial institutions after the 2008 financial crisis. Such applications have stressed the importance of centrality within the too-connected-to-fail concept. Yet, despite their well-known importance for financial stability,...
Persistent link: https://www.econbiz.de/10010862635
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Modular scale-free architecture of Colombian financial networks: Evidence and challenges with financial stability in view
León, carlos; Berndsen, Ron J. - Banco de la Republica de Colombia - 2013
Scale-free (inhomogeneous) connective structures with modular (highly clustered) hierarchies are ubiquitous in real–world networks. Evidence from the main Colombian payment and settlement systems verifies that local financial networks have self-organized into a modular scale-free architecture...
Persistent link: https://www.econbiz.de/10010862642
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Latin American Exchange Rate Dependencies: A Regular Vine Copula Approach
Maya, Rubén Albeiro Loaiza; Gómez-González, José Eduardo - Banco de la Republica de Colombia - 2012
This study implements a regular vine copula methodology to evaluate the level of contagion among the exchange rates of six Latin American countries (Argentina, Brazil, Chile, Colombia, Mexico and Peru) from June 2005 to April 2012. We measure contagion in terms of tail dependence coefficients,...
Persistent link: https://www.econbiz.de/10010906084
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Cuantificación de la contribución de las fuentes de liquidez en el Sistema de Pagos de Alto Valor en Colombia: una aproximación preliminar
Bernal, Joaquin; Freddy Cepeda L.; Fabio Ortega C. - Banco de la Republica de Colombia - 2011
En el presente trabajo se realiza un análisis de estática comparativa relacionado con la cuantificación de la contribución de las distintas fuentes de liquidez que utilizan las entidades financieras en Colombia para cumplir (liquidar) sus obligaciones en el sistema de pagos de alto valor...
Persistent link: https://www.econbiz.de/10009404554
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POLÍTICA MONETARIA Y CAMBIARIA Y ESTABILIDAD DEL TIPO DE CAMBIO EN ALGUNOS PAÍSES EMERGENTES: Hungría, Chile, China, Perú y Brasil
Alonso, Gloria; Esguerra, Pilar; Flórez, Luz Adriana; … - Banco de la Republica de Colombia
Este documento resume las principales conclusiones del ejercicio realizado con el objetivo de analizar la forma cómo algunos países emergentes, con diversos esquemas de política monetaria, manejan su política cambiaria. La pregunta que suscitó este análisis fue: ¿Cómo han logrado los...
Persistent link: https://www.econbiz.de/10005035892
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El mercado OTC de valores en Colombia: caracterización y comparación con base en el análisis de redes complejas
Rincón, Carlos Eduardo León; Villalobos, Jhonatan Pérez - Banco de la Republica de Colombia - 2013
Este documento expone cómo se conforma y articula el mercado OTC de valores en el caso colombiano. Así mismo, en el marco del mercado de deuda pública local, con base en el análisis de redes complejas, este documento describe, caracteriza y compara al mercado OTC con los organizados (SEN y...
Persistent link: https://www.econbiz.de/10010660122
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Optimical Commodity Price Stabilizador Over the Business Cycle
Rodrigo Suescún M. - Banco de la Republica de Colombia
This paper develops a model to study the design, characterization and dynamic implications of stabilization policies in a dynamic general equilibrium model of the business cycle for an economy tainted by the Dutch disease. The model incorporates a stabilization scheme for the producer price of...
Persistent link: https://www.econbiz.de/10005274339
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The Transmission Mechanism of Monetary Policy in Colombia Major Changes and Current Features
Vargas, Hernando - Banco de la Republica de Colombia
The Colombian economy experienced several shocks in the past ten years. The permanent fall of inflation, the adoption … of inflation targeting (IT) and a financial crisis altered the transmission mechanism of monetary policy. Low inflation … and IT reduced inflation persistence and contributed to anchor inflation expectations. The evidence is less conclusive …
Persistent link: https://www.econbiz.de/10005274443