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Recent macroeconomic performance in colombia: what went wrong?

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Author Info
ARANGO, Luis Eduardo ()
IREGUI, Ana María
MELO, Luis F.

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Abstract

Al finalizar la década anterior la actividad real en Colombia experimentó la más aguda recesión de los últimos 50 años. Para explicar este fenómeno, postulamos un modelo VAR estructural no-triangular que describe la dinámica de la producción, los precios, el desempleo y los salarios durante las últimas dos décadas. La evidencia sugiere que, en el largo plazo, la política monetaria ha sido neutral con respecto al producto y la desempleo, mientras que la principal razón para el incremento de éste último se explica por la forma en que se han determinado los salarios (formación de expectativas hacia atrás) y el incremento de los costos no salariales.

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Article provided by UNIVERSIDAD DEL ROSARIO - FACULTAD DE ECONOMÍA in its journal REVISTA DE ECONOMÍA DEL ROSARIO.

Volume (Year): (2006)
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Handle: RePEc:col:000151:003418

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Martha Misas Arango & Enrique López Enciso, 1998. "El Producto Potencial En Colombia: Una Estimación Bajo Var Estructural," BORRADORES DE ECONOMIA 002538, BANCO DE LA REPÚBLICA. [Downloadable!]
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  2. Fabiani, Silvia & Locarno, Alberto & Oneto, Gian Paolo & Sestito, Paolo, 2001. "The sources of unemployment fluctuations: an empirical application to the Italian case," Labour Economics, Elsevier, vol. 8(2), pages 259-289, May. [Downloadable!] (restricted)
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  3. Balmaseda, Manuel & Dolado, Juan J & Lopez-Salido, J David, 2000. "The Dynamic Effects of Shocks to Labour Markets: Evidence from OECD Countries," Oxford Economic Papers, Oxford University Press, vol. 52(1), pages 3-23, January.
  4. Martha Misas & Enrique López Enciso, . "Desequilibrios Reales en Colombia," Borradores de Economia 181, Banco de la Republica de Colombia. [Downloadable!]
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  5. Dolado, Juan J. & Jimeno, Juan F., 1997. "The causes of Spanish unemployment: A structural VAR approach," European Economic Review, Elsevier, vol. 41(7), pages 1281-1307, July. [Downloadable!] (restricted)
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  6. Luis Eduardo Arango, . "Temporary and Permanent Components of Colombia's Output," Borradores de Economia 096, Banco de la Republica de Colombia. [Downloadable!]
  7. Blanchard, Olivier Jean & Quah, Danny, 1989. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, American Economic Association, vol. 79(4), pages 655-73, September. [Downloadable!] (restricted)
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  8. Ana María Iregui & Jesús Otero, 2003. "On the dynamics of unemployment in a developing economy: Colombia," Applied Economics Letters, Taylor and Francis Journals, vol. 10(14), pages 895-898, November. [Downloadable!] (restricted)
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  9. Algan, Yann, 2002. "How well does the aggregate demand-aggregate supply framework explain unemployment fluctuations? A France-United States comparison," Economic Modelling, Elsevier, vol. 19(1), pages 153-177, January. [Downloadable!] (restricted)
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  10. Olivier J. Blanchard, 1986. "Hysteresis and Unemployment," Working papers 430, Massachusetts Institute of Technology (MIT), Department of Economics.
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Luis Eduardo Arango & Carlos Esteban Posada, 2006. "La Tasa De Desempleo De Largo Plazo En Colombia," BORRADORES DE ECONOMIA 003085, BANCO DE LA REPÚBLICA. [Downloadable!]
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  2. Luis Eduardo Arango & Carlos Esteban Posada, . "The Time-Varying Long-Run Unemployment Rate: The Colombian Case," Borradores de Economia 389, Banco de la Republica de Colombia. [Downloadable!]
  3. Luis Eduardo Arango & Carlos Esteban Posada, 2006. "The Time-Varying Long-Run Unemployment Rate: The Case Colombian," BORRADORES DE ECONOMIA 003629, BANCO DE LA REPÚBLICA. [Downloadable!]
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