Advanced Search
MyIDEAS: Login to save this paper or follow this series

Un choque del activo externo neto y el ciclo económico Colombiano 1994-2001

Contents:

Author Info

  • Carlos Esteban Posada Posada

    ()

  • Wilman Gómez

    ()

Abstract

El período 1994-2001 correspondió al de un ciclo de la economía colombiana, especialmente intenso sobretodo en lo que se refiere a la magnitud de la depresión ocurrida entre 1998 y 2001. En el presente documento se describe la construcción y el uso de un modelo de equilibrio general dinámico para evaluar los efectos de un impacto que, presumiblemente, dio origen al auge y a la posterior depresión de la economía: un aumento transitorio, súbito e imprevisto del activo externo neto (gracias, supuestamente, a una caída de la tasa externa de interés). Tal “choque” desató, según los resultados de las simulaciones descritas en este documento, primero, un auge, y después, una desaceleración. Con todo, la depresión observada entre 1998 y 2001 fue de magnitud sustancialmente mayor que la desaceleración predicha por el choque mencionado, así que en 1998 debió ocurrir un choque adicional, esta vez de magnitud negativa, capaz de transformar aquella en una depresión.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.banrep.gov.co/docum/ftp/borra285.pdf
Download Restriction: no

Bibliographic Info

Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 003674.

as in new window
Length: 34
Date of creation: 30 Apr 2004
Date of revision:
Handle: RePEc:col:000094:003674

Contact details of provider:

Related research

Keywords: Ciclo económico;

Find related papers by JEL classification:

References

References listed on IDEAS
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.:
as in new window
  1. Cristina Arellano & Enrique Mendoza, 2002. "Credit Frictions and 'Sudden Stops' in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises," Research Department Publications 4307, Inter-American Development Bank, Research Department.
  2. Franz Hamann, . "Sovereign Risk and Macroeconomic Fluctuations," Borradores de Economia 225, Banco de la Republica de Colombia.
  3. Reinhart, Carmen & Calvo, Guillermo & Leiderman, Leonardo, 1993. "Af1uencia de capital y apreciacion del tipo de cambio real en America Latina: E1 papel de los factores externos
    [Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of Ex
    ," MPRA Paper 13681, University Library of Munich, Germany.
  4. Carlos Estaban Posada & Wilman Gómez, 2002. "Crecimiento Económico Y Gasto Público Un Modelo Para El Caso Colombiano," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE.
  5. Caballero, Ricardo J. & Krishnamurthy, Arvind, 2004. "Smoothing sudden stops," Journal of Economic Theory, Elsevier, vol. 119(1), pages 104-127, November.
  6. Martha Misas & Enrique López, . "El Producto Potencial en Colombia: Una Estimación Bajo VAR Estructural," Borradores de Economia 094, Banco de la Republica de Colombia.
  7. Guillermo A. Calvo & Alejandro Izquierdo & Ernesto Talvi, 2003. "Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability: Argentina's Lessons," NBER Working Papers 9828, National Bureau of Economic Research, Inc.
  8. Cristina Arellano & Enrique G. Mendoza, 2002. "Credit Frictions and "Sudden Stop" in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises," IDB Publications 6499, Inter-American Development Bank.
  9. Franz Hamann S. & Alvaro Riascos, 1998. "Ciclos Económicos en una Economía Pequeña y Abierta - Una Aplicación para Colombia," BORRADORES DE ECONOMIA 002122, BANCO DE LA REPÚBLICA.
  10. Rodrigo Suescún M., 1997. "Commodity booms,dutch disease,and real business cycles in a small open economy: The case of coffee in Colombia," BORRADORES DE ECONOMIA 002164, BANCO DE LA REPÚBLICA.
  11. Alejandro BADEL FLÓREZ, 2001. "Choques financieros, precios de activos y recesión en Colombia," ARCHIVOS DE ECONOMÍA 002121, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
  12. Miguel Urrutia, 2002. "UNA VISIÓN ALTERNATIVA: La Política Monetaria y Cambiaria en la Última Década," BORRADORES DE ECONOMIA 003731, BANCO DE LA REPÚBLICA.
  13. Blanchard, Olivier Jean & Kahn, Charles M, 1980. "The Solution of Linear Difference Models under Rational Expectations," Econometrica, Econometric Society, vol. 48(5), pages 1305-11, July.
  14. Marianne Baxter & Robert G. King, 1995. "Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series," NBER Working Papers 5022, National Bureau of Economic Research, Inc.
  15. Carlos Esteban Posada & cposadpo@banrep.gov.co, . "Los Ciclos Económicos Colombianos en el Siglo XX," Borradores de Economia 126, Banco de la Republica de Colombia.
  16. Abdelhak S. Senhadji, 2003. "External Shocks and Debt Accumulation in a Small Open Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(1), pages 207-239, January.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Ramiro Rodríguez Revilla, 2011. "Modelos de equilibrio general dinámicos y estocásticos para Colombia 1995-2011," REVISTA ECOS DE ECONOMÍA, UNIVERSIDAD EAFIT.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:col:000094:003674. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Norma Judith Paternina).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.