El presente artículo describe el diseño y presenta la estimación y los principales resultados de un modelo "VAR estructural" de 4 variables (términos de intercambio, producto real, gasto público real y base monetaria nominal) para la economía colombiana con series de frecuencia anual del...

The empirical literature about economic growth has usually ignored spatial interdependence among countries. This paper uses spatial econometrics to estimates a growth model that includes cross-country interdependence, in whitch a country's economic growth depends on the growth rate of its...

This paper examines the relationship between mortgage default decisions and relevant observable variables under the light of a random utility model. The focus of the study is the Colombian mortgage market between 1997 and 2004 using two separate data sets that are matched using simulation...

This paper examines whether central banks in Latin America have implemented conventional inflation targeting (IT) prescriptions, with a focus on foreign exchange intervention and official reserves accumulation policies. To this end, the paper reviews the experiences of Brazil, Chile, Colombia,...

There is now an impetus to apply dynamic stochastic general equilibrium models to forecasting. But these models typically rely on purpose-built data, for example on tradable and nontradable sector outputs. How then do we know that the model will forecast well, in advance? We develop an early...

Teniendo en cuenta que la volatilidad de la tasa de cambio puede afectar en gran medida al sector real y financiero, se hace un estudio comparativo entre Colombia y once países seleccionados, algunos por su similitud con Colombia en algunos aspectos y otros porque sus monedas son una referencia...