IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/62043.html
   My bibliography  Save this paper

Restricción a la liquidez en Colombia
[Restriction liquidity Colombia]

Author

Listed:
  • Anzoategui Zapata, Juan Camilo

Abstract

The restriction to liquidity in macroeconomic terms, is defined as the limited access and use certain proportion of the population to financial services. In the case of the inclusion of agents with liquidity constraints can be determined that pioneering work is the first developed by (Mankiw, 2000), who analyzes the inclusion of agents non-Ricardian considering that there are a significant part of the population subject to liquidity constraints, which may suffer severe changes in consumption to effects on public spending or tax changes, rescuing then, the importance of fiscal policy on the evidence of agents do not have access to the financial system. Also, determine that the non-Ricardian agents separate their consumption period of his term income and non-Ricardian agents do not have the ability - for their low income-consumption separating the level of income being forced to consume their income current.

Suggested Citation

  • Anzoategui Zapata, Juan Camilo, 2014. "Restricción a la liquidez en Colombia
    [Restriction liquidity Colombia]
    ," MPRA Paper 62043, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:62043
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/62043/1/MPRA_paper_62043.pdf
    File Function: original version
    Download Restriction: no

    File URL: https://mpra.ub.uni-muenchen.de/64969/1/MPRA_paper_62043.pdf
    File Function: revised version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Ligia Melo B. & Juana Téllez C. & Héctor Zárate S., 2006. "El ahorro de los hogares en Colombia," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 24(52), pages 110-161, December.
    2. Jordi Galí & Mark Gertler & J. David López-Salido, 2007. "Markups, Gaps, and the Welfare Costs of Business Fluctuations," The Review of Economics and Statistics, MIT Press, vol. 89(1), pages 44-59, November.
    3. N. Gregory Mankiw, 2000. "The Savers-Spenders Theory of Fiscal Policy," American Economic Review, American Economic Association, vol. 90(2), pages 120-125, May.
    4. Andrés Murcia Pabón, 2007. "Determinantes Del Acceso Al Crédito De Los Hogares Colombianos," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 25(55), pages 40-83, December.
    5. Aiyagari, S. Rao & Christiano, Lawrence J. & Eichenbaum, Martin, 1992. "The output, employment, and interest rate effects of government consumption," Journal of Monetary Economics, Elsevier, vol. 30(1), pages 73-86, October.
    6. Ana María Iregui B. & Ligia Alba Melo B., 2009. "La transmisión de la política monetaria sobre el consumo en presencia de restricciones de liquidez," Borradores de Economia 547, Banco de la Republica de Colombia.
    7. J. Boscá & A. Díaz & R. Doménech & J. Ferri & E. Pérez & L. Puch, 2010. "A rational expectations model for simulation and policy evaluation of the Spanish economy," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 1(1), pages 135-169, March.
    8. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    9. Beck, Thorsten & Demirguc-Kunt, Asli & Martinez Peria, Maria Soledad, 2007. "Reaching out: Access to and use of banking services across countries," Journal of Financial Economics, Elsevier, vol. 85(1), pages 234-266, July.
    10. Roland Straub & Günter Coenen, 2005. "Non-Ricardian Households and Fiscal Policy in an Estimated DSGE Model of the Euro Area," Computing in Economics and Finance 2005 102, Society for Computational Economics.
    11. Sergio Ocampo Díaz, 2011. "Agentes no ricardianos y rigideces nominales: su efecto sobre el principio de Taylor," Vniversitas Económica 008302, Universidad Javeriana - Bogotá.
    12. Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 2005. "Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy," Journal of Political Economy, University of Chicago Press, vol. 113(1), pages 1-45, February.
    13. Baxter, Marianne & King, Robert G, 1993. "Fiscal Policy in General Equilibrium," American Economic Review, American Economic Association, vol. 83(3), pages 315-334, June.
    14. Tullio Jappelli & Marco Pagano, 1994. "Saving, Growth, and Liquidity Constraints," The Quarterly Journal of Economics, Oxford University Press, vol. 109(1), pages 83-109.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Agentes ricardianos; agentes no ricardianos; Macroeconomía microfundamentada; Liquidez; Política fiscal. Ricardian agents; non-Ricardian agents; Macroeconomics Liquidity; Fiscal Policy.;

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:62043. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.