IDEAS home Printed from https://ideas.repec.org/a/cml/moneta/vxxxvy2013i2p251-310.html
   My bibliography  Save this article

Brecha del producto y medidas de la tasa de interés neutral para Colombia

Author

Listed:
  • Andrés González

    (Universidad de los Andes)

  • Sergio Ocampo
  • Julián Pérez

    (Banco de la República, Colombia)

  • Diego Rodríguez

    (Banco de la República, Colombia)

Abstract

En este documento se proponen tres medidas nuevas de la brecha del producto y de la tasa de interés real. En vez de basarnos exclusivamente en los filtros estadísticos, las medidas propuestas usan modelos neokeynesianos semiestructurales, adaptados para una economía pequeña y abierta. Las medidas de la brecha del producto presentadas están en concordancia con trabajos anteriores para Colombia y registran todos los puntos de inflexión del ciclo económico de Colombia, siguiendo las mediciones de Alfonso et al., 2011. También están muy relacionadas con la inflación y preceden su movimiento en toda la muestra. La tasa de interés neutral computada indica que la postura de política monetaria ha sido en general anticíclica, pero no ha logrado anticipar los movimientos de la brecha del producto, o al menos no ha reaccionado con suficiente contundencia ante ellos.

Suggested Citation

  • Andrés González & Sergio Ocampo & Julián Pérez & Diego Rodríguez, 2013. "Brecha del producto y medidas de la tasa de interés neutral para Colombia," Monetaria, Centro de Estudios Monetarios Latinoamericanos, vol. 0(2), pages 251-310, julio-dic.
  • Handle: RePEc:cml:moneta:v:xxxv:y:2013:i:2:p:251-310
    as

    Download full text from publisher

    File URL: http://www.cemla.org/PDF/monetaria/PUB_MON_XXXV-02.pdf
    Download Restriction: no

    More about this item

    Keywords

    Brecha del producto; Modelo neokeynesiano; Tasa de interés neutral;

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cml:moneta:v:xxxv:y:2013:i:2:p:251-310. 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: (Ana Laura Sibaja-Jiménez). General contact details of provider: http://edirc.repec.org/data/cemlamx.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.