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Policy Analysis Tool Applied to Colombian Needs: PATACON Model Description

  • Andrés González


  • Lavan Mahadeva


  • Juan D. Prada


  • Diego Rodríguez


In this document we lay out the microeconomic foundations of a dynamic stochastic general equilibrium model designed to forecast and to advice monetary policy authorities in Colombia. The model is called Policy Analysis Tool Applied to Colombian Needs (PATACON). In companion documents we present other aspects of the model and its platform, including the estimation of the parameters that affect the dynamics and the impulse responses functions.

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Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 008698.

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Length: 59
Date of creation: 17 May 2011
Date of revision:
Handle: RePEc:col:000094:008698
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  1. Pietro Bonaldi & Andrés González & Diego Rodríguez, . "Importancia de las rigideces nominales y reales en Colombia: un enfoque de equilibrio general dinámico y estocástico," Borradores de Economia 591, Banco de la Republica de Colombia.
  2. Andrés González & Sergio Ocampo & Diego Rodríguez & Norberto Rodríguez, 2012. "Asimetrías del empleo y el producto, una aproximación de equilibrio general," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 30(68), pages 218-272, Junio.
  3. Juan Manuel Julio, 2010. "Heterogeneidad observada y no observada en la formación de los precios del ipc colombiano," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(63), pages 66-99, Diciembre.
  4. Martha Misas Arango & Enrique López Enciso & Juan Carlos Parra, 2009. "La formación de precios en las empresas colombianas: evidencia a partir de una encuesta directa," BORRADORES DE ECONOMIA 005735, BANCO DE LA REPÚBLICA.
  5. Burriel, Pablo & Fernández-Villaverde, Jesús & Rubio-Ramírez, Juan Francisco, 2009. "MEDEA: A DSGE Model for the Spanish Economy," CEPR Discussion Papers 7297, C.E.P.R. Discussion Papers.
  6. Martha R. López & Juan David Prada, 2010. "Optimal Monetary Policy and Asset Prices: The case of Colombia," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(61), pages 167-197.
  7. Christian Bustamante, 2011. "Política monetaria contracíclica y encaje bancario," BORRADORES DE ECONOMIA 008202, BANCO DE LA REPÚBLICA.
  8. Hofstetter, Marc, 2010. "Sticky prices and moderate inflation," Economic Modelling, Elsevier, vol. 27(2), pages 535-546, March.
  9. Andrés González Gómez & Lavan Mahadeva & Diego Rodríguez & Luis Eduardo Rojas, 2009. "Monetary Policy Forecasting In A Dsge Model With Data That Is Uncertain, Unbalanced And About The Future," BORRADORES DE ECONOMIA 005480, BANCO DE LA REPÚBLICA.
  10. Ana María Iregui B. & Ligia Alba Melo B. & María Teresa Ramírez G., . "Are wages rigid in Colombia?: Empirical evidence based on a sample of wages at the firm level," Borradores de Economia 571i, Banco de la Republica de Colombia.
  11. Juan Manuel Julio & Héctor Manuel Zárate & Manuel Hernández, 2010. "The Stickiness of Colombian Consumer Prices," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(63), pages 100-153, Diciembre.
  12. Anonymous, 0. "Economic Development And Aid," Increasing Understanding of Public Problems and Policies, Farm Foundation.
  13. Martha López & Juan David Prada & Norberto Rodríguez, 2009. "Evidence for a Financial Accelerator in a Small Open Economy,and Implications for Monetary Policy," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, vol. 27(60), pages 12-45, December.
  14. Adolfson, Malin & Laséen, Stefan & Lindé, Jesper & Villani, Mattias, 2007. "Evaluating An Estimated New Keynesian Small Open Economy Model," CEPR Discussion Papers 6027, C.E.P.R. Discussion Papers.
  15. Martha R. López & Juan David Prada, 2009. "Optimal Monetary Policy and Asset Prices: the case of Colombia," BORRADORES DE ECONOMIA 006299, BANCO DE LA REPÚBLICA.
  16. repec:tep:teppwp:wp1215 is not listed on IDEAS
  17. Anonymous, 0. "Economic Growth Through Regional Associations," Increasing Understanding of Public Problems and Policies, Farm Foundation.
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