Un enfoque de equilibrio general para el análisis de la estabilidad financiera en Colombia

Saade, Agustín; Osorio-Rodríguez, Daniel Esteban; Estrada, Dairo Ayiber

Un enfoque de equilibrio general para el análisis de la estabilidad financiera en Colombia

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Temas de Estabilidad Financiera ; No. 17

Date published

2006-03-01

Date

2006-03

Authors

Saade, Agustín
Osorio-Rodríguez, Daniel Esteban
Estrada, Dairo Ayiber

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.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.

Abstract

Central banks have achieved positive results for inflation during the last two decades. At the same time, their concern for financial stability has increased, particularly after the late nineties, when they experienced the high costs that come with financial crisis.1 Moreover, it now seems clear that, under extreme circumstances, financial stability can pose a constraint to the normal operation of monetary policy (See Vargas et al., (32006)). For these reasons, central banks now use a set of tools to assess and promote financial stability. According to Bårdsen, Lindquist and Tsomocos (2006), these tools range from calculating indicators to designing structural macroeconomic models. The latter are understood as complex environments that allow for an analysis of interaction between the different agents at hand and the financial system (banks, depositors, regulators, etc.), as well as the effect of changes in the stance of monetary policy.

Description

Se hace un resumen de los resultados principales de una agenda de investigaciones realizada por el Departamento de Estabilidad Financiera del Banco de la República cuyo núcleo consiste en la aplicación de un MEGHF para el análisis de la estabilidad del sistema financiero colombiano.