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Exchange Rate Pass-Through Effects: A Disaggregate Analysis of Colombian Imports of Manufactured Goods
Rincón, Hernán; Caicedo, Edgar; Rodríguez, Norberto - Banco de la Republica de Colombia
sample of manufactured imports. Also, whether the foreign exchange and inflation regimes affect the degree of pass-through is … that under a floating regime there is a low degree of pass-through and the hypothesis that a low inflation environment has …
Persistent link: https://www.econbiz.de/10005113915
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Evaluación de Reglas de Tasa de Interés en un Modelo de Economía Pequeña y Abierta
Amaya, Julian Pérez - Banco de la Republica de Colombia
Empleando un modelo de equilibrio general dinámico y estocástico para una economía pequeña y abierta con imperfecciones y rigideces en el sector no transable calibrado para Colombia, se estudia la conveniencia de que la autoridad monetaria fije como medida de inflación objetivo en su...
Persistent link: https://www.econbiz.de/10005113933
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Disinflation Costs Under Inflation Targeting in Small Open Economy Economy
Echavarría, Paulina Restrepo - Banco de la Republica de Colombia
Since 1991, inflation in Colombia was reduced from 25% on average to about 6% more recently. Although this performance … is in line with a long run inflation target of 3%, some analysts ask whether the Central Bank should continue … disinflating. In this paper we present a dynamic stochastic general equilibrium model of inflation targeting for a small open …
Persistent link: https://www.econbiz.de/10005113958
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Inflación y apertura: evidencia para Colombia (1980-2005)
Carlos Esteban Posada P.; Camilo Morales J. - Banco de la Republica de Colombia
En los últimos años se ha desarrollado en la literatura internacional una corriente de estudio enfocada a examinar los efectos del libre comercio sobre la inflación. Este trabajo pone a prueba la hipótesis de una conexión entre el grado de apertura de la economía colombiana y su tasa de...
Persistent link: https://www.econbiz.de/10005650584
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La Política Monetaria en Colombia
Pineda, Javier Gómez - Banco de la Republica de Colombia
El artículo hace una narración de la política monetaria en Colombia. Por ser una narración de la política monetaria en una economía abierta, el artículo hace énfasis en los conceptos de "trilema"de la política monetaria, ancla nominal y regimenes monetarios. Además, la narración...
Persistent link: https://www.econbiz.de/10005650547
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The international cycle and Colombian monetary policy
Mahadeva, Lavan; Pineda, Javier Gómez - Banco de la Republica de Colombia
The objective of this paper is to analyze how international cycles affect the real GDP cycle and so monetary policy decisions in Colombia. We estimate that cycles in world GDP, export prices and capital inflows are strongly associated with the Colombian business cycle both on impact and even...
Persistent link: https://www.econbiz.de/10005650576
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"Early Warning Indicators for Latin America"
Tenjo, Fernando; López, Martha - Banco de la Republica de Colombia
We explore the performance of a set of early warning indicators for a group of Latin American economies under the endogenous cycle perspective. For this group of countries, the paper confirms the results of work on industrialized countries that a combination of asset prices and credit provides...
Persistent link: https://www.econbiz.de/10008568131
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Policy Analysis Tool Applied to Colombian Needs: PATACON Model Description
González, Andrés; Mahadeva, Lavan; Prada, Juan D.; … - Banco de la Republica de Colombia
In this document we lay out the microeconomic foundations of a dynamic stochastic general equilibrium model designed to forecast and to advice monetary policy authorities in Colombia. The model is called Policy Analysis Tool Applied to Colombian Needs (PATACON). In companion documents we present...
Persistent link: https://www.econbiz.de/10009021427
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Financial Intermediation and Monetary Policy in a Small Open Economy
Sarmiento, Juan David Prada - Banco de la Republica de Colombia
mechanism of the monetary policy, and determines the final effects on aggregated demand and inflation rates of exogenous … scenarios, totally different reactions on economic activity, and little quantitative effects on inflation rates and aggregate …
Persistent link: https://www.econbiz.de/10005274454
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Exchange Rate Targeting in a Small Open Economy
Nielsen, Mette Ersbak Bang - Banco de la Republica de Colombia
setting with dynamic inflation updating. The model is used to analyze the e¤ect of nominal ex- change rate targeting on … and inflation is evident in the model, and impulse responses under moderate exchange rate targeting are not simple …
Persistent link: https://www.econbiz.de/10005113918