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"Pass-Through" de las tasas de interés en Colombia: Un enfoque multivariado con cambio de régimen

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Author Info

  • Rocío Betancourt García

    ()

  • Martha Misas Arango

    ()

  • Leonardo Bonilla Mejía

    ()

Abstract

La transmisión de la tasa de política a las tasas de interés de mercado es el primer eslabón del mecanismo de transmisión de la política monetaria en un esquema de inflación objetivo, por esta razón, la magnitud y la rapidez con la que se presente dicha transmisión es de vital importancia para la efectividad de dicha política. Dada la evidencia de una transmisión lenta e incompleta y de la posible existencia de estructuras multivariadas que pueden verse afectadas por las condiciones del entorno, la estimación del pass-through de tasas de interés debería no solo considerar la influencia de otras variables diferentes a la tasa de política en los mercados de créditos y depósitos, sino también, el posible efecto que sobre dicha dinámica puedan tener diferentes estados o regímenes de la economía.

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Bibliographic Info

Paper provided by Banco de la Republica de Colombia in its series Borradores de Economia with number 535.

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Handle: RePEc:bdr:borrec:535

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Related research

Keywords: Pass-through de tasas de interés; Markov-Switching multivariado; Microeconomía Bancaria; Política Monetaria Colombia. Classification JEL:E43; E52; G21.;

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Cited by:
  1. Héctor M. Zárate Solano & Norberto Rodríguez Niño & Margarita Marín Jaramillo, 2012. "El tamaño de las empresas y la transmisión de la política monetaria en Colombia: una aplicación con la encuesta mensual de expectativas económicas," Borradores de Economia 721, Banco de la Republica de Colombia.
  2. Andrés Felipe Londoño & Jorge Andrés Tamayo & Carlos Alberto Velásquez, 2012. "Dinámica de la política monetaria e inflación objetivo en Colombia: una aproximación FAVAR," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE.

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