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The Shock- Absorber Role of the Internal Public Debt in Colombia, 1923-2003

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Author Info
Mauricio Avella Gómez ()
Abstract

The hypothesis that the internal public debt has played the role of shock absorber in Colombia since 1923 is modelled. 1923 was an important landmark in the history of fiscal and monetary reforms in Colombia during the twentieth century. The econometric results offer a strong support for the hypothesized shock-absorber role of the internal debt.

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Paper provided by Banco de la Republica de Colombia in its series Borradores de Economia with number 342.

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Handle: RePEc:bdr:borrec:342

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Related research
Keywords: Deficit; surplus; Debt; Latin America;

Find related papers by JEL classification:
H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management
N16 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - Latin America; Caribbean

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This page was last updated on 2009-11-20.

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