En este trabajo se analiza la política fiscal en Colombia y la postura del gobierno frente a la crisis internacional (2008-2009). Utilizando una regla de política se concluye que la política fiscal discrecional ha sido procíclica, ha reducido su volatilidad en los últimos años y ha sido...

Resumen: este artículo muestra la evolución de la deuda pública colombiana enel período 1980-2008. Como en América Latina, la relación deuda-PIB en Colombia se redujo en los últimos cinco o seis años. Esta reducción, por lo menos, en el caso colombiano se explica más como resultado de...

En este documento se caracteriza la política fiscal en Colombia a partir de la valoración de los tres aspectos más relevantes desde la perspectiva macroeconómica: su posición frente al ciclo, su volatilidad y la sostenibilidad de la deuda. Los resultados encontrados se comparan a nivel...

En este documento se caracteriza la política fiscal en Colombia a partir de la valoración de los tres aspectos más relevantes desde la perspectiva macroeconómica: su posición frente al ciclo, su volatilidad y la sostenibilidad de la deuda. Los resultados encontrados se comparan a nivel...

Cyclical contractions differ from recession phases that are not only much less frequent but also more volatile. A major implication involves fiscal policy stance which in the Oecd area is dominated by automatical responses. Fiscal automatism explains why government spending is often procyclical...

This paper analyzes optimal policy responses to a global liquidity trap. The key feature of this environment is that relative prices respond perversely. A fall in demand in one country causes an appreciation of its terms of trade, exacerbating the initial shock. At the zero bound, this country...

Euroland is in a crisis that is slowly but surely spreading from one periphery country to another; it will eventually reach the center. The blame is mostly heaped upon supposedly profligate consumption by Mediterraneans. But that surely cannot apply to Ireland and Iceland. In both cases, these...

Euroland is in a crisis that is slowly but surely spreading from one periphery country to another; it will eventually reach the center. The blame is mostly heaped upon supposedly profligate consumption by Mediterraneans. But that surely cannot apply to Ireland and Iceland. In both cases, these...

Euroland is in a crisis that is slowly but surely spreading from one periphery country to another; it will eventually reach the center. The blame is mostly heaped upon supposedly profligate consumption by Mediterraneans. But that surely cannot apply to Ireland and Iceland. In both cases, these...

Euroland is in a crisis that is slowly but surely spreading from one periphery country to another; it will eventually reach the center. The blame is mostly heaped upon supposedly profligate consumption by Mediterraneans. But that surely cannot apply to Ireland and Iceland. In both cases, these...