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Datos en tiempo real:una aplicación a la regla de taylor en Colombia

  • Gloria Lucía Bernal Nisperuza

    ()

    (Pontificia Universidad Javeriana)

  • Johanna Táutiva Pradere

    ()

    (Departamento Nacional de Planeación)

Registered author(s):

    Los datos de variables macroeconómicas usados por los agentes y hacedores de política para la toma de decisiones y aquellos usados por los investigadores para la evaluación de dichas decisiones podrían no ser comparables, pues estos últimos son revisados y actualizados continuamente por las entidades estadísticas. Este trabajo construye una base de datos en tiempo real (DTR) del PIB real de Colombia y estima una regla de Taylor usando dichos datos versus datos revisados. Se encuentra que el coeficiente de inflación es significativamente diferente si se estima con DTR versus datos revisados.

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/gbernal,gbernal24.pdf
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    Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

    Volume (Year): 13 (2011)
    Issue (Month): 24 (January-June)
    Pages: 373-394

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    Handle: RePEc:rei:ecoins:v:13:y:2011:i:24:p:373-394
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    1. Juan Manuel Julio & Javier Gómez, 1999. "Outpout Gap Estimation, Estimation Uncertainty And Its Effect On Policy Rules," BORRADORES DE ECONOMIA 003309, BANCO DE LA REPÚBLICA.
    2. Andrés Felipe Giraldo Palomino, 2008. "Aversión a la inflación y regla de Taylor en Colombia 1994-2005," REVISTA CUADERNOS DE ECONOMÍA, UN - RCE - CID.
    3. David E. Runkle, 1998. "Revisionist history: how data revisions distort economic policy research," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall, pages 3-12.
    4. María Paola Figueroa & Javier Gómez Pineda, . "Modelo Mensual de Canales de Transmisión," Borradores de Economia 267, Banco de la Republica de Colombia.
    5. Martha Rosalba Lopezpiñeros, 2004. "Efficient Policy Rulefor Inflation Targeting Incolombia," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE.
    6. Lars E O Svensson, 2005. "Monetary Policy with Judgment: Forecast Targeting," International Journal of Central Banking, International Journal of Central Banking, vol. 1(1), May.
    7. Glenn D. Rudebusch, 2001. "Is The Fed Too Timid? Monetary Policy In An Uncertain World," The Review of Economics and Statistics, MIT Press, vol. 83(2), pages 203-217, May.
    8. John B. Taylor, 1999. "Introduction to "Monetary Policy Rules"," NBER Chapters, in: Monetary Policy Rules, pages 1-14 National Bureau of Economic Research, Inc.
    9. Juan Manuel Julio Román, . "The Monetary Policy Rule During The Transition To A Stable Level Of Inflation: The Case Of Colombia," Borradores de Economia 404, Banco de la Republica de Colombia.
    10. Glenn D. Rudebusch, 1996. "Do measures of monetary policy in a VAR make sense?," Working Papers in Applied Economic Theory 96-05, Federal Reserve Bank of San Francisco.
    11. John B. Taylor, 1999. "A Historical Analysis of Monetary Policy Rules," NBER Chapters, in: Monetary Policy Rules, pages 319-348 National Bureau of Economic Research, Inc.
    12. Athanasios Orphanides, 1998. "Monetary policy rules based on real-time data," Finance and Economics Discussion Series 1998-03, Board of Governors of the Federal Reserve System (U.S.).
    13. Rudebusch, Glenn D, 1998. "Do Measures of Monetary Policy in a VAR Make Sense? A Reply," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(4), pages 943-48, November.
    14. John B. Taylor, 1999. "Monetary Policy Rules," NBER Books, National Bureau of Economic Research, Inc, number tayl99-1, May.
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