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Policy Analysis Tool Applied to Colombian Needs: Patacon Model Description

  • Andrés González

    ()

  • Lavan Mahadeva

    ()

  • Juan D. Prada

    ()

  • Diego Rodríguez

    ()

In this document we lay out the microeconomic foundations of a dynamic stochastic general equilibrium model, called Policy Analysis Tool Applied to Colombian Needs (PATACON), designed as a forecast tool and as a guide to advise monetarypolicy authorities in Colombia. In companion documents we present other aspects of the model, including the estimation of the parameters that affect dynamics and impulse response functions.

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File URL: http://www.banrep.gov.co/sites/default/files/publicaciones/archivos/espe_art6_66.pdf
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Article provided by BANCO DE LA REPÚBLICA - ESPE in its journal ENSAYOS SOBRE POLÍTICA ECONÓMICA.

Volume (Year): 29 (2011)
Issue (Month): 66 (December)
Pages: 222-245

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Handle: RePEc:col:000107:010043
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  1. Pablo Burriel & Jesús Fernández-Villaverde & Juan F. Rubio-Ramírez, 2009. "MEDEA: A DSGE Model for the Spanish Economy," Working Papers 2009-17, FEDEA.
  2. Andrés González Gómez & Lavan Mahadeva & Diego Rodríguez & Luis Eduardo Rojas, 2009. "Monetary Policy Forecasting In A Dsge Model With Data That Is Uncertain, Unbalanced And About The Future," BORRADORES DE ECONOMIA 005480, BANCO DE LA REPÚBLICA.
  3. Andrés González & Sergio Ocampo & Diego Rodríguez & Norberto Rodríguez, . "Asimetrías del empleo y el producto, una aproximación de equilibrio general," Borradores de Economia 663, Banco de la Republica de Colombia.
  4. Hofstetter, Marc, 2010. "Sticky prices and moderate inflation," Economic Modelling, Elsevier, vol. 27(2), pages 535-546, March.
  5. Juan Manuel Julio & Héctor Manuel Zárate & Manuel Hernández, 2010. "The Stickiness of Colombian Consumer Prices," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(63), pages 100-153, Diciembre.
  6. repec:tep:teppwp:wp1215 is not listed on IDEAS
  7. Anonymous, 0. "Economic Development And Aid," Increasing Understanding of Public Problems and Policies, Farm Foundation.
  8. Adolfson, Malin & Laséen, Stefan & Lindé, Jesper & Villani, Mattias, 2008. "Evaluating an estimated new Keynesian small open economy model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2690-2721, August.
  9. Martha R. López & Juan David Prada, 2010. "Optimal Monetary Policy and Asset Prices: The case of Colombia," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(61), pages 167-197.
  10. Pietro Bonaldi & Andrés González & Diego Rodríguez, . "Importancia de las rigideces nominales y reales en Colombia: un enfoque de equilibrio general dinámico y estocástico," Borradores de Economia 591, Banco de la Republica de Colombia.
  11. Christian Bustamante, 2011. "Política monetaria contracíclica y encaje bancario," BORRADORES DE ECONOMIA 008202, BANCO DE LA REPÚBLICA.
  12. Juan Manuel Julio, . "Heterogeneidad observada y no observada en la formación de los precios del IPC Colombiano," Borradores de Economia 597, Banco de la Republica de Colombia.
  13. Martha Misas A. & Enrique López E. & Juan Carlos Parra A., . "La formación de precios en las empresas colombianas: evidencia a partir de una encuesta directa," Borradores de Economia 569, Banco de la Republica de Colombia.
  14. Anonymous, 0. "Economic Growth Through Regional Associations," Increasing Understanding of Public Problems and Policies, Farm Foundation.
  15. Ana María Iregui B. & Ligia Alba Melo B. & María Teresa Ramírez G., . "Are wages rigid in Colombia?: Empirical evidence based on a sample of wages at the firm level," Borradores de Economia 571i, Banco de la Republica de Colombia.
  16. Martha R. López & Juan David Prada, 2009. "Optimal Monetary Policy and Asset Prices: the case of Colombia," BORRADORES DE ECONOMIA 006299, BANCO DE LA REPÚBLICA.
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