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Una evaluación de la efectividad y el impacto en el bienestar de los controles de capital en Colombia

Author

Listed:
  • Daniel Poveda
  • Franz Hamann

Abstract

El objetivo de este trabajo es responder dos preguntas de política relacionadas con el uso de un depósito no remunerado como forma de control de capitales en una economía pequena y abierta como la colombiana: ¿Son un instrumento efectivo para reducir el endeudamiento externo de los agentes nacionales? ¿Cuál es el impacto de su uso sobre el bienestar? Con tal propósito se construye un modelo con mercados financieros incompletos y agentes heterogéneos que tienen problemas de auto-control que los inducen a endeudarse más en el presente en contraposición a la necesidad de ahorrar por precaución. Los resultados sugieren que su efectividad depende de los parámetros que describen las preferencias de los agentes y que existe un rango sobre el cual su uso incrementa el bienestar de la sociedad.

Suggested Citation

  • Daniel Poveda & Franz Hamann, 2013. "Una evaluación de la efectividad y el impacto en el bienestar de los controles de capital en Colombia," Documentos CEDE 11894, Universidad de los Andes, Facultad de Economía, CEDE.
    • Handle: RePEc:col:000089:011894
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    File URL: https://repositorio.uniandes.edu.co/bitstream/handle/1992/8429/dcede2013-49.pdf
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    More about this item

    Keywords

    Sobreendeudamiento; control de capitales; descuento cuasi-hiperbólico; agentes heterogéneos; mercados incompletos; problemas de tentación y auto-control.;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications

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