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El canal del crédito bancario en Colombia: 1995-2005. Una aproximación mediante modelos de umbral

Author

Listed:
  • María Isabel Restrepo
  • Diana Constanza Restrepo

Abstract

Resumen: El canal del crédito bancario, que amplifica los efectos del canal tradicional de la política monetaria, hace énfasis en la estructura y las fricciones del mercado financiero como determinantes del gasto agregado. Este artículo analiza y verifica la existencia del canal del crédito bancario en Colombia estimando un modelo propuesto por Michael Gibson en 19971997, quien utiliza regresiones de umbral para determinar el impacto de la política monetaria sobre la demanda agregada. Los resultados obtenidos no permiten descartar la existencia de este mecanismo de transmisión en Colombia durante el periodo analizado, aunque éste parece operar solo a través de la política monetaria contraccionista.

Suggested Citation

  • María Isabel Restrepo & Diana Constanza Restrepo, 2007. "El canal del crédito bancario en Colombia: 1995-2005. Una aproximación mediante modelos de umbral," Revista Lecturas de Economía, Universidad de Antioquia, CIE, December.
    • Handle: RePEc:col:000174:004655
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    More about this item

    Keywords

    política monetaria; mecanismos de transmisión; canal de crédito bancario; modelos de umbral;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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