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dc.creatorSuescun-Melo, Rodrigo
dc.date.created1997-06-20
dc.date.issued1997-06-20
dc.identifier.urihttp://repositorio.banrep.gov.co/handle/20.500.12134/5090
dc.description.abstractThis paper proposes a dynamic,stochastic, multisector growth model which integrates the real business cycle literature and booming sector and Dutch Disease economics to analyze fluctuations, resource allocation and relative price changes in small open (developing) economies subject to terms of trade shocks. The model is consistent whith aggregate and sectorial cyclical behavior of this class of economies, and rationalizes as an efficient outcome the symptoms of Dutch Disease (temporary deindustrialization and appreciation of the real exchange rate) which are sometimes judged to be suboptimal responses and as the rationale for government intervention in developing countries. It is also found that commodity price stabilization policies do not significantly affect the cyclical pattern of fluctuations and that their welfare benefits are second orden.
dc.format.mimetypePDF
dc.language.isospa
dc.publisherBanco de la República
dc.relation.ispartofDocumentos de Trabajo
dc.relation.ispartofseriesBorradores de Economía
dc.relation.isversionofBorradores de Economía; No. 73
dc.rights.accessRightsOpen Access
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/
dc.titleCommodity booms, dutch disease, and real business cycles in a small open economy: the case of coffee in Colombia
dc.typeWorking Paper
dc.subject.jelC73 - Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
dc.subject.jelC61 - Optimization Techniques; Programming Models; Dynamic Analysis
dc.subject.jelE32 - Business Fluctuations; Cycles
dc.subject.jelE31 - Price Level; Inflation; Deflation
dc.subject.keywordCommodity booms
dc.subject.keywordEconomy
dc.subject.keywordCoffee
dc.subject.keywordColombia
dc.subject.lembEnfermedad holandesa (Economía) -- Colombia
dc.subject.lembCafé -- Colombia
dc.subject.lembCiclos económicos -- Colombia
dc.subject.lembPrecios de productos básicos -- Colombia
dc.subject.lembProductos básicos -- Colombia
dc.type.spaDocumentos de trabajo
dc.rights.spaAcceso abierto
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0
dc.subject.jelspaC73 - Juegos estocásticos y dinámicos; Juegos evolutivos; Juegos repetidos
dc.subject.jelspaE31 - Nivel de precios; Inflación; Deflación
dc.subject.jelspaE32 - Fluctuaciones económicas; Ciclos
dc.subject.jelspaC61 - Técnicas de optimización; Modelos de programación; Análisis dinámico
dc.type.hasversionPublished Version
dc.coverage.sucursalBogotá
dc.relation.doihttps://doi.org/10.32468/be.73
dc.rights.disclaimerLas opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
dc.relation.numberBorrador 73
dc.relation.repechttps://ideas.repec.org/p/bdr/borrec/073.html
dc.identifier.handlehttp://hdl.handle.net/20.500.12134/5090
dc.source.handleRepecRePEc:bdr:borrec:073


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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit