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Efectos regionales de la política monetaria en Colombia

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  • Igor Esteban Zuccardi Huertas

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Abstract

En este documento se analiza si las regiones colombianas responden de manera diferente a un choque de política monetaria común. Para ello se estimaron ocho modelos VAR, uno con información nacional y uno por cada una de las áreas metropolitanas de Bogotá, Medellín, Cali, Barranquilla, Bucaramanga, Manizales y Pasto, entre 1984 y 2000. Además, se estimó un modelo SUR con información regional para ajustar las respuestas de las ciudades a las posibles relaciones interregionales existentes. Se encontró que Bucaramanga es la ciudad que más responde a un incentivo monetario, mientras que Bogotá y Barranquilla reaccionan de forma similar al promedio nacional. Medellín, Manizales y Pasto muestran comportamientos distintos, en tanto que Cali es la región menos sensible. Sin embargo, a pesar de estos resultados, no se encontró evidencia estadística para afirmar que dichas regiones responden de maneras diversas a un choque monetario común.

Suggested Citation

  • Igor Esteban Zuccardi Huertas, 2002. "Efectos regionales de la política monetaria en Colombia," DOCUMENTOS DE TRABAJO SOBRE ECONOMÍA REGIONAL Y URBANA 002431, BANCO DE LA REPÚBLICA - ECONOMÍA REGIONAL.
    • Handle: RePEc:col:000102:002431
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    References listed on IDEAS

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    1. Blanchard, Olivier Jean & Quah, Danny, 1989. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, American Economic Association, vol. 79(4), pages 655-673, September.
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    4. George Georgopoulos, 2001. "Measuring regional effects of monetary policy in Canada," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 7(2), pages 269-269, May.
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    6. Gerald A. Carlino & Robert H. DeFina, 1996. "Does monetary policy have differential regional effects?," Business Review, Federal Reserve Bank of Philadelphia, issue Mar, pages 17-27.
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    8. Juan J. de Lucio & Mario Izquierdo, "undated". "Local responses to a global monetary policy: The regional structure of financial systems," Working Papers 99-14, FEDEA.
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    Cited by:

    1. Adolfo Meisel Roca, 2003. "La continentalización de la isla de San Andres, Colombia: Panyas, raizales y turismo, 1953-2003," Documentos de trabajo sobre Economía Regional y Urbana 37, Banco de la Republica de Colombia.
    2. Pavel Vidal & Gilberto Ramírez & Lya Paola Sierra, 2018. "¿Por qué el Valle del Cauca ha crecido más que el promedio nacional? Un análisis regional de los ciclos y los choques económicos," Working Papers 33, Faculty of Economics and Management, Pontificia Universidad Javeriana Cali.

    More about this item

    Keywords

    Política monetaria;

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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