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Se presentan argumentos que indican que es necesario, ahora, diseñar una estrategia convincente de generación de superávit fiscales primarios futuros (permanentes) cuyo rango está entre 0.9% y 1.5% del PIB, de manera que el actual nivel de endeudamiento pueda ser juzgado sostenible. En tal...
Persistent link: https://www.econbiz.de/10005113948
El documento analiza la política fiscal a lo largo del Siglo XX en Colombia, con énfasis en los factores económicos y …
Persistent link: https://www.econbiz.de/10010571642
In the past decade the Colombian Economic Authorities undertook a series of measures that reduced the structural fiscal deficit, decreased the Government currency mismatch and deepened the local fixed-rate public bond market. This paper presents some evidence suggesting that these improvements...
Persistent link: https://www.econbiz.de/10010543170
The purpose of this study is twofold: First, it provides an empirical characterization of fiscal policy in Colombia …
Persistent link: https://www.econbiz.de/10008475947
This paper reviews the relationship between the business cycle and public finances in Colombia. The evidence shows that … cyclical component of the central government balance in Colombia has in general been fairly small. For instance, during the … institutions, fiscal rules, corruption, voracity effect, etc. Using a standard approach we find that fiscal policy in Colombia has …
Persistent link: https://www.econbiz.de/10005274378
Structural VAR and Structural VEC models were estimated for Chile and Colombia, aiming at identifying fiscal policy … seems to be more effective than when they lack stability and credibility, as seems to be the case of Colombia since the mid …
Persistent link: https://www.econbiz.de/10005113931
The focus of this paper is on the short-term macroeconomic effects of fiscal policy in Colombia in a structural vector …
Persistent link: https://www.econbiz.de/10005650601
2004. De acuerdo al mercado internacional de combustibles, Colombia es uno de los países con los precios y los impuestos …
Persistent link: https://www.econbiz.de/10005113941
In this paper we investigate the impact of rapid credit growth on ex ante credit risk. We present micro-econometric evidence of the positive relationship between rapid credit growth and deterioration in lending portfolios: Loans granted during boom periods have higher probability of default than...
Persistent link: https://www.econbiz.de/10010705831
Este documento estima los efectos de choques de origen financiero y real sobre un conjunto de variables de la economía colombiana. Para ello, se utiliza un modelo FAVAR que incorpora dos factores no observados, los cuales recogen la dinámica de 111 variables de la economía colombiana entre el...
Persistent link: https://www.econbiz.de/10010906067