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Choques financieros, precios de activos y recesión en Colombia

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  • Alejandro BADEL FLÓREZ

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Abstract

En este trabajo se desarrolla una versión estocástica de “agente representativo” del modelo de ciclos crediticios de Kiyotaki y Moore (1997) donde los choques al …nanciamiento internacional generan ‡uctuaciones persistentes en los precios de los activos y el producto. Con base en este modelo se analizan las fluctuaciones macroeconómicas experimentadas por Colombia durante la década de los 90. En particular, se busca una teoría que pueda explicar de manera coherente 3 elementos fundamentales: las fluctuaciones en el precio de los activos, el comportamiento del crédito y la recesión, a partir de choques exógenos pequeños al financiamiento internacional. Usando una estimación empírica de este modelo se encuentra el costo en bienestar de las restricciones crediticias para Colombia.

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Bibliographic Info

Paper provided by DEPARTAMENTO NACIONAL DE PLANEACIÓN in its series ARCHIVOS DE ECONOMÍA with number 002121.

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Length: 33
Date of creation: 20 Nov 2001
Date of revision:
Handle: RePEc:col:000118:002121

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Cited by:
  1. Alberto Jaramillo & Hermilson Velásquez & Javier Santiago Ortiz & Natalia Serna, 2003. "Aspectos teóricos y empíricos de la relación empresas bancos," DOCUMENTOS DE TRABAJO CIEF 003922, UNIVERSIDAD EAFIT.
  2. Aquiles Arrieta Barcasnegras, 2012. "La relación entre los flujos de capital y el precio de la vivienda: el caso colombiano," Revista de Economía del Caribe, UNIVERSIDAD DEL NORTE.
  3. Carlos Esteban Posada Posada & Wilman Gómez, 2004. "Un choque del activo externo neto y el ciclo económico Colombiano 1994-2001," BORRADORES DE ECONOMIA 003674, BANCO DE LA REPÚBLICA.
  4. Wilman Gómez & Carlos Esteban Posada, . "Un "Choque" del Activo Externo Neto y el Ciclo Económico Colombiano," Borradores de Economia 285, Banco de la Republica de Colombia.

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