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Política cambiaria, monetaria y fiscal: ¿ha aprendido Colombia a mitigar los efectos de las crisis?

Author

Listed:
  • Leonardo Villar
  • Jos� Vicente Romero
  • C�sar Pab�n

Abstract

El presente documento realiza una revisión y análisis de los procesos de transformación de políticas procíclicas en políticas contracíclicas que han logrado llevar a cabo las autoridades económicas en los tres frentes descritos durante las dos últimas décadas, para lo cual hace énfasis especial en la comparación del manejo que tuvo la crisis de fines del siglo XX (1998-2001), durante la cual dominaron las políticas procíclicas, y el manejo contracíclico que pudo hacerse en 2008-2009, durante la recesión mundial posterior a la crisis de Lehman Brothers.

Suggested Citation

  • Leonardo Villar & Jos� Vicente Romero & C�sar Pab�n, 2015. "Política cambiaria, monetaria y fiscal: ¿ha aprendido Colombia a mitigar los efectos de las crisis?," Informes de Investigación 13616, Fedesarrollo.
    • Handle: RePEc:col:000124:013616
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    References listed on IDEAS

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    2. Carlos A. Vegh & Guillermo Vuletin, 2014. "Social Implications of Fiscal Policy Responses During Crises," NBER Working Papers 19828, National Bureau of Economic Research, Inc.
    3. Graciela L. Kaminsky & Carmen M. Reinhart & Carlos A. Végh, 2005. "When It Rains, It Pours: Procyclical Capital Flows and Macroeconomic Policies," NBER Chapters, in: NBER Macroeconomics Annual 2004, Volume 19, pages 11-82, National Bureau of Economic Research, Inc.
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    6. Igancio Lozano, 2009. "Caracterización de la Política Fiscal en Colombia y Análisis de su Postura Frente a la Crisis Internacional," Borradores de Economia 5547, Banco de la Republica.
    7. Adolfo Barajas & Roberto Steiner & Leonardo Villar & C�sar Pab�n, 2014. "Inflation targeting in Latin America," Working Papers Series. Documentos de Trabajo 11550, Fedesarrollo.
    8. Roberto Junguito & Hern�n Rinc�n, 2004. "La política fiscal en el siglo XX en Colombia: una visión global," Coyuntura Económica, Fedesarrollo.
    9. Roberto Steiner & Adolfo Barajas & César Pabón & Leonardo Villar, 2014. "Singular Focus or Multiple Objectives? What the Data Tell Us about Inflation Targeting in Latin America," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2014), pages 177-213, June.
    10. Camilo Mondrag√≥n-V√©lez & Ximena PeÔøΩa & Daniel Wills, 2010. "Labor Market Rigidities and Informality in Colombia," Documentos CEDE 6717, Universidad de los Andes, Facultad de Economía, CEDE.
    11. Tovar, Camilo & Garcia-Escribano, Mercedes & Vera, Mercedes, 2012. "El crecimiento del crédito y la efectividad de los requerimientos de encaje y otros instrumentos macroprudenciales en América Latina," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 24, pages 45-64.
    12. Adolfo Barajas & Roberto Steiner & Leonardo Villar & César Pabón, 2014. "Inflation targeting in Latin America," Working Papers Series. Documentos de Trabajo 11550, Fedesarrollo.
    13. Roberto Junguito & Hern�n Rinc�n, 2004. "La Pol�Tica Fiscal En El Siglo Xx En Colombia," Borradores de Economia 3052, Banco de la Republica.
    14. Roberto Junguito & Hernán Rincón, 2004. "La Política Fiscal En El Siglo Xx En Colombia," Borradores de Economia 3052, Banco de la Republica.
    15. Camilo Mondragón-Vélez & Ximena Pe�a & Daniel Wills, 2010. "Labor Market Rigidities and Informality in Colombia," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2010), pages 65-101.
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    Cited by:

    1. C√©sar Pab√≥n & Juan Guillermo Bedoya, 2014. "Regla de Taylor en Colombia: ¬øVariante a trav√©s del tiempo?," Documentos CEDE 14373, Universidad de los Andes, Facultad de Economía, CEDE.
    2. Hernán Rincón-Castro & María Angélica Moreno-Barrera, 2022. "El balance macroeconómico colombiano y por sectores institucionales, 1975-2021: ¿Quiénes ahorran y quiénes desahorran y por qué?," Borradores de Economia 1215, Banco de la Republica de Colombia.
    3. Barón Ortegón, Brayan Alexander, 2018. "Cointegration of Economic growth and External balance in Colombia: 1963-2016," MPRA Paper 87974, University Library of Munich, Germany.
    4. Fredy Gamboa-Estrada & José Vicente Romero, 2022. "Common and idiosyncratic movements in Latin-American exchange rates," International Economics, CEPII research center, issue 171, pages 174-190.

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    More about this item

    Keywords

    Macroeconomía; Política Monetaria; Política Fiscal; Política Macroprudencial; Política Cambiaria;
    All these keywords.

    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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