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The Risk-Taking Channel in Colombia Revisited
López, Martha; Tenjo, Fernando; Zárate, Héctor - Banco de la Republica de Colombia - 2012
Levels of interest rates below historical norms may have enhanced financial instability in developed and developing economies during the 2000's. The risk taking channel of monetary policy transmission is a recent theory that explains the interaction between risk perceptions of the financial...
Persistent link: https://www.econbiz.de/10010543168
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The Risk-Taking Channel and Monetary Transmission Mechanism in Colombia
Martha López P.; Fernando Tenjo G.; Solano, Héctor Zárate - Banco de la Republica de Colombia
attitudes of banks and other financial institutions, leading to shifts in the supply of credit. Along these lines, and based on …
Persistent link: https://www.econbiz.de/10008461098
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Riesgo Sistémico y Estabilidad del Sistema de Pagos de Alto Valor en Colombia: Análisis bajo Topología de Redes y Simulación de Pagos
Machado, Clara Lía; León, Carlos; Sarmiento, Miguel; … - Banco de la Republica de Colombia
Este documento estudia la estabilidad del sistema de pagos (SP) de alto valor en Colombia (CUD) ante el incumplimiento de una entidad sistémicamente importante, y evalúa la capacidad de respuesta de las entidades afectadas a partir de la utilización de sus recursos y a través de los...
Persistent link: https://www.econbiz.de/10008727688
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Too-connected-to-fail Institutions and Payments System’s Stability: Assessing Challenges for Financial Authorities
Léon, Carlos; Machado, Clara; Cepeda, Freddy; … - Banco de la Republica de Colombia
The most recent episode of market turmoil exposed the limitations resulting from the traditional focus on too-big-to-fail institutions within an increasingly systemic-crisis-prone financial system, and encouraged the appearance of the too-connected-to-fail (TCTF) concept. The TCTF concept...
Persistent link: https://www.econbiz.de/10008854671
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La estructura del mercado interbancario y del riesgo de contagio en Colombia.
Estrada, Dairo; Acevedo, Paola Morales - Banco de la Republica de Colombia
El mercado interbancario juega un papel muy importante como distribuidor de recursos líquidos. No obstante, si muchas entidades enfrentan simultáneamente problemas de liquidez, la oferta agregada de liquidez sería menor que la demanda y los bancos estarían obligados a acudir al banco central...
Persistent link: https://www.econbiz.de/10005274577
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A Market Risk Approach to Liquidity Risk and Financial Contagion
Estrada, Dairo; Osorio, Daniel - Banco de la Republica de Colombia
when either interbank credit exposures or bank runs are present. This paper shows that this phenomenon can also arise when … individual liquidity risk trans- forms into system-wide market risk (even in the absence of bank runs and interbank credit …
Persistent link: https://www.econbiz.de/10005113935
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Credit determinants and its impact of firms' growth in Colombia
Quicazán, Carlos; Moreno, Diana Fernández; Estrada, Dairo - Banco de la Republica de Colombia
In recent years, credit growth has been accelerated recording higher levels of credit as a percentage of GDP, compared … to previous years in some countries of Latin America. In Colombia, credit to GDP indicator had increased almost 10 … percentage points in the last five years. For this reason, it is interesting to study the behavior in Colombia analyzing credit …
Persistent link: https://www.econbiz.de/10010906094
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Acelerador Financiero y Ciclos Económicos en Colombia: Un Ejercicio Exploratorio
Galarza, Fernando Tenjo; Charry, Luisa F.; Martha López P. - Banco de la Republica de Colombia
A partir del debate sobre la respuesta de política a fluctuaciones en los precios de los activos, en el presente documento se estudia la importancia de estos precios en el contexto de una economía emergente como la colombiana, caracterizada por un grado variable de represión financiera y...
Persistent link: https://www.econbiz.de/10005783872
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La crisis reciente de Estados Unidos (2007-2008): redescubriendo la importancia del mercado de "fondos prestables"
Carlos Esteban Posada P.; Jorge Andrés Tamayo C. … - Banco de la Republica de Colombia
La "sabiduría convencional" afirma que los temas de crecimiento económico se entienden con modelos clásicos, y los de corto plazo (ciclos, etc.) con los keynesianos (o neo-keynesianos). Y, en efecto, la rigidez de precios (de productos o factores) es una característica de la explicación...
Persistent link: https://www.econbiz.de/10005035869
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Beyond Bubbles: The role of asset prices in early-warning indicators
Gómez, Esteban; Rozo, Sandra - Banco de la Republica de Colombia
asset price indicators is enhanced by including credit and investment. When the early-warning indicators are on, the role of …
Persistent link: https://www.econbiz.de/10005650563