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Estimación Estructural Y Análisis De La Curva De Phillips Neokeynesiana Para Colombia

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Jesús Antonio Bejarano Rojas ()
Abstract

En este artículo se estiman, para Colombia, los parámetros profundos de la curva de Phillips neokeynesiana propuesta por Gali y Gertler (1999). La estimación de los parámetros implica que más del setenta por ciento de las firmas en Colombia mantiene sus precios fijos durante aproximadamente tres trimestres. Adicionalmente, se estiman los parámetros estructurales que soportan la relación positiva que hay entre la brecha del costo marginal real y la brecha del producto a partir de un modelo de equilibrio general propuesto por Gali y Monacelli (2002). Los resultados obtenidos muestran una relación positiva de corto plazo entre el costo marginal real y el producto en Colombia.

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Article provided by BANCO DE LA REPÚBLICA - ESPE in its journal ENSAYOS SOBRE POLÍTICA ECONÓMICA.

Volume (Year): (2005)
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Handle: RePEc:col:000107:002601

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  1. Trabandt, Mathias, 2007. "Sticky Information vs. Sticky Prices: A Horse Race in a DSGE Framework," Working Paper Series 209, Sveriges Riksbank (Central Bank of Sweden). [Downloadable!]
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  2. Christopher F Baum & Mark E. Schaffer & Steven Stillman, 2002. "Instrumental variables and GMM: Estimation and testing," Boston College Working Papers in Economics 545, Boston College Department of Economics, revised 14 Feb 2003. [Downloadable!]
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  3. Edith Gagnon & Hashmat Khan, 2001. "New Phillips Curve with Alternative Marginal Cost Measures forCanada, the United States, and the Euro Area," Working Papers 01-25, Bank of Canada. [Downloadable!]
  4. Argia M. Sbordone, 2001. "Prices and Unit Labor Costs: A New Test of Price Stickiness," Departmental Working Papers 199822, Rutgers University, Department of Economics. [Downloadable!]
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  5. Kevin Moran & Veronika Dolar, 2002. "Estimated DGE Models and Forecasting Accuracy: A Preliminary Investigation with Canadian Data," Working Papers 02-18, Bank of Canada. [Downloadable!]
  6. Taylor, John B, 1980. "Aggregate Dynamics and Staggered Contracts," Journal of Political Economy, University of Chicago Press, vol. 88(1), pages 1-23, February. [Downloadable!] (restricted)
  7. Laurence Ball, 1994. "What Determines the Sacrifice Ratio?," NBER Chapters, in: Monetary Policy, pages 155-193 National Bureau of Economic Research, Inc. [Downloadable!]
  8. Roberts, John M, 1995. "New Keynesian Economics and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 975-84, November. [Downloadable!] (restricted)
  9. Chadha, J.S. & Charles Nolan, 2002. "Output, Inflation and the New Keynesian Phillips Curve," Cambridge Working Papers in Economics 0204, Faculty of Economics, University of Cambridge. [Downloadable!]
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  10. Carlos Esteban Posada & Wilman Gómez, 2002. "Crecimiento Económico y Gasto Público: Un Modelo para el Caso Colombiano," BORRADORES DE ECONOMIA 002218, BANCO DE LA REPÚBLICA. [Downloadable!]
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  11. Michael T. Kiley, 1998. "Monetary policy under neoclassical and New-Keynesian Phillips Curves, with an application to price level and inflation targeting," Finance and Economics Discussion Series 1998-27, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  12. Reinhart, Carmen M. & Vegh, Carlos A., 1995. "Nominal interest rates, consumption booms, and lack of credibility: A quantitative examination," Journal of Development Economics, Elsevier, vol. 46(2), pages 357-378, April. [Downloadable!] (restricted)
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  13. Kevin Moran, 2001. "Dynamic General-Equilibrium Models and Why the Bank of Canada is Interested in Them," Bank of Canada Review, Bank of Canada, vol. 2000(Winter), pages 3-12. [Downloadable!]
  14. Dr. Peter Kenning & Hilke Plassmann, 2004. "NeuroEconomics," Experimental 0412005, EconWPA. [Downloadable!]
  15. Enrique López E. & Martha Misas A., 1999. "Un Examen Empirico De La Curva De Phillips En Colombia," BORRADORES DE ECONOMIA 003676, BANCO DE LA REPÚBLICA. [Downloadable!]
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  16. Julio Rotemberg, 1987. "The New Keynesian Microfoundations," NBER Chapters, in: NBER Macroeconomics Annual 1987, Volume 2, pages 69-116 National Bureau of Economic Research, Inc. [Downloadable!]
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