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Análisis del Endeudamiento de los Hogares Colombianos


  • Mario Alejandro Gónzalez


  • John Jairo León



Este documento analiza los determinantes del endeudamiento de los hogares enColombia en los ´ultimos 14 a~nos. A partir de un modelo simple de elecci´on y con base enlos datos de las Cuentas Financieras del Banco de la Rep´ublica y de la muestra aleatoriacodificada de los renglones de las declaraciones correspondientes a los contribuyentespersonas naturales declarantes del impuesto sobre la renta para los per´ıodos gravables1993 a 2004, se determinan las principales variables que afectan la decisi´on de endeudamiento.Los resultados sugieren que el colateral, los niveles de deuda anterior y lacarga financiera son los determinantes del endeudamiento de los hogares en Colombiay, por lo tanto, las acciones de pol´ıtica deben enfocarse en vigilar el patrimonio de loshogares y la din´amica de la tasa de inter´es para evitar una crisis de repudio similar aaquella de 1999.

Suggested Citation

  • Mario Alejandro Gónzalez & John Jairo León, 2007. "Análisis del Endeudamiento de los Hogares Colombianos," BORRADORES DE ECONOMIA 004020, BANCO DE LA REPÚBLICA.
  • Handle: RePEc:col:000094:004020

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    References listed on IDEAS

    1. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    2. David Roodman, 2006. "How to Do xtabond2," North American Stata Users' Group Meetings 2006 8, Stata Users Group.
    3. Sarah Brown & Karl Taylor, 2008. "Household debt and financial assets: evidence from Germany, Great Britain and the USA," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 171(3), pages 615-643.
    4. Sarah Brown & Gaia Garino & Karl Taylor & Stephen Wheatley Price, 2005. "Debt and Financial Expectations: An Individual- and Household-Level Analysis," Economic Inquiry, Western Economic Association International, vol. 43(1), pages 100-120, January.
    5. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 277-297.
    6. Sarah Brown & Karl Taylor, 2005. "Household Debt and Financial Assets: Evidence from Great Britain, Germany and the United States," Discussion Papers in Economics 05/5, Department of Economics, University of Leicester.
    7. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 47-82, January.
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    More about this item


    endeudamiento; balance de los hogares; racionamiento de cr´edito; modelosde datos panel din´amicos;

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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