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Importancia de las rigideces nominales y reales en Colombia: un enfoque de equilibrio general dinámico y estocástico

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  • Pietro Bonaldi

    ()

  • Andrés González

    ()

  • Diego Rodríguez

    ()

Abstract

Este trabajo pretende determinar qué conjunto de rigideces nominales y reales se debe incluir en un modelo DSGE para replicar la dinámica de las variables agregadas de la economía colombiana. Con este fin, se estiman varios modelos DSGE con distintas combinaciones de rigideces nominales y reales usando métodos Bayesianos. Los resultados indican que el ajuste empírico del modelo está determinado, en orden de importancia, por la rigidez de salarios, la rigidez de los precios domésticos, los costos de ajuste a la inversión y la rigidez de precios de importados. Con respecto a la dinámica de corto plazo del modelo, la sensibilidad ante un choque de política monetaria depende en mayor medida de las rigideces de salarios, del tipo de indexación de precios y salarios y de los costos de ajuste de la inversión.

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Bibliographic Info

Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 006857.

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Length: 27
Date of creation: 15 Mar 2010
Date of revision:
Handle: RePEc:col:000094:006857

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Keywords: Rigideces nominales; rigideces reales; modelo DSGE; estimación Bayesiana;

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  1. Andrle, Michal, 2008. "The Role of Trends and Detrending in DSGE Models," MPRA Paper 13289, University Library of Munich, Germany.
  2. Jeffrey C. Fuhrer, 2009. "Inflation persistence," Working Papers, Federal Reserve Bank of Boston 09-14, Federal Reserve Bank of Boston.
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  4. Juan manuel Julio & Héctor manuel Zárate, 2008. "The Price SeTTing Behavior in colomBia: evidence from PPi micro data," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, BANCO DE LA REPÚBLICA - ESPE.
  5. Christopher J. Erceg & Dale W. Henderson & Andrew T. Levin, 1999. "Optimal monetary policy with staggered wage and price contracts," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) 640, Board of Governors of the Federal Reserve System (U.S.).
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  8. Andrés González & Lavan Mahadeva & Juan D. Prada & Diego Rodríguez, . "Policy Analysis Tool Applied to Colombian Needs: PATACON Model Description," Borradores de Economia 656, Banco de la Republica de Colombia.
  9. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, Elsevier, vol. 12(3), pages 383-398, September.
  10. Adolfson, Malin & Laséen, Stefan & Lindé, Jesper & Villani, Mattias, 2005. "Bayesian Estimation of an Open Economy DSGE Model with Incomplete Pass-Through," Working Paper Series 179, Sveriges Riksbank (Central Bank of Sweden).
  11. Juan Manuel Julio & Héctor Manuel Zárate & Manuel Dario Hernández, 2010. "The Stickiness of Colombian Consumer Prices," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, BANCO DE LA REPÚBLICA - ESPE.
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Cited by:
  1. Johana Maritsa Hernández Henao & Last: Hernández Henao, 2013. "Demanda externa, términos de intercambio y el papel de la política monetaria durante la crisis de 2008," Documentos de Investigación - Research Papers, Centro de Estudios Monetarios Latinoamericanos, CEMLA 7, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
  2. Juan José Echavarría & Enrique López & Sergio Ocampo & Norberto Rodríguez, 2011. "Choques, instituciones laborales y desempleo en Colombia," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, BANCO DE LA REPÚBLICA - ESPE.
  3. Andrés González & Sergio Ocampo & Diego Rodríguez & Norberto Rodríguez, 2012. "Asimetrías del empleo y el producto, una aproximación de equilibrio general," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, BANCO DE LA REPÚBLICA - ESPE.
  4. Sergio Ocampo Díaz, 2011. "Agentes no ricardianos y rigideces nominales: su efecto sobre el principio de Taylor," VNIVERSITAS ECONÓMICA 008302, UNIVERSIDAD JAVERIANA - BOGOTÁ.

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