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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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    3. Miguel Urrutia, 2002. "UNA VISION ALTERNATIVA: La Política Monetaria y Cambiaria en la Ültima Década," Borradores de Economia 207, Banco de la Republica de Colombia.
    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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