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Los costos de la desinflación en Colombia según el modelo Buiter-Miller

Author

Listed:
  • Jaime Sarmiento Espinel
  • Alejandro Ramírez Vigoya*

Abstract

En este artículo analizamos los costos del proceso desinflacionario colombiano entre 1998 y 2003, utilizamos un modelo VAR estructural con restricciones de corto y largo plazo basado en el modelo Buiter-Miller (1982), el cual analiza los efectos de una desaceleración del crecimiento monetario sobre la tasa de interés real, la tasa de cambio real, la producción y los precios. Por medio de la contabilidad de innovaciones concluimos que los choques de la tasa de interés real y del crecimiento de la base monetaria fueron los principales causantes de la desinflación.

Suggested Citation

  • Jaime Sarmiento Espinel & Alejandro Ramírez Vigoya*, 2005. "Los costos de la desinflación en Colombia según el modelo Buiter-Miller," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, December.
    • Handle: RePEc:col:000093:005831
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    File URL: http://www.fce.unal.edu.co/media/files/documentos/Cuadernos/43/v24n43_sarmiento_2005.pdf
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    Citations

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    Cited by:

    1. Andrés Gonzalez & Franz Hamann, 2011. "Lack of Credibility, Inflation Persistence and Disinflation in Colombia," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, May.
    2. Alejandro Ramírez Vigoya & Hernando Rodríguez Zambrano, 2013. "Un análisis VAR estructural de política monetaria en Colombia," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, December.

    More about this item

    Keywords

    Desinflación; modelo Buiter-Miller; VAR estructural; contabilidad de innovaciones.;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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