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Policy Analysis Tool Applied to Colombian Needs: Patacon Model Description

Author

Listed:
  • Andrés González
  • Lavan Mahadeva
  • Juan D. Prada
  • Diego Rodríguez

Abstract

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.

Suggested Citation

  • Andrés González & Lavan Mahadeva & Juan D. Prada & Diego Rodríguez, 2011. "Policy Analysis Tool Applied to Colombian Needs: Patacon Model Description," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República - ESPE, vol. 29(66), pages 222-245, December.
  • Handle: RePEc:col:000107:010043
    DOI: 10.32468/Espe.6606
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    References listed on IDEAS

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    More about this item

    Keywords

    Monetary policy; DSGE; small open economy;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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