Output gap and neutral interest measures for Colombia

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Borradores de Economía; No. 726
Date published
2012-08-05
Date of last update
2012-08-05
Author
González-Gómez, Andrés
Ocampo-Díaz, Sergio
Pérez-Amaya, Julián Mauricio
Rodríguez-Guzmán, Diego Arturo
Document language
spa
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Las 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.
Abstract
In this paper two new measures of the Colombian output gap and the real neutral interest rate are proposed. Instead of relying only on statistical filters, the proposed measures use semi-structural New-Keynesian models, adapted for a small open economy. T
JEL Codes
E43 - Interest Rates: Determination, Term Structure, and EffectsE32 - Business Fluctuations; CyclesE23 - Production
Keywords
Output gap ; New-keynesian model ; Neutral interest rate ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/5770
https://hdl.handle.net/20.500.12134/5770
https://doi.org/10.32468/be.726
https://ideas.repec.org/p/bdr/borrec/726.html
https://ideas.repec.org/p/col/000094/009870.html
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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