The risk-taking channel in Colombia revisited
dc.audience | Policymakers | eng |
dc.audience | Researchers | eng |
dc.audience | Students | eng |
dc.audience | Teachers | eng |
dc.coverage.sucursal | Bogotá | spa |
dc.creator | López-Piñeros, Martha Rosalba | |
dc.creator | Tenjo-Galarza, Fernando | |
dc.creator | Zárate-Solano, Hector Manuel | |
dc.creator.firma | Martha López | |
dc.date.accessioned | 2012-06-01T08:30:10Z | eng |
dc.date.available | 2012-06-01T08:30:10Z | eng |
dc.date.created | 2012-06-01 | eng |
dc.date.issued | 2012-06 | eng |
dc.description | Niveles de tasas de interés por debajo de sus niveles históricos pueden haber contribuido a una mayor inestabilidad en economías tanto desarrolladas como en desarrollo durante la década del 2000. El canal de toma de riesgo de la transmisión de la política monetaria es una teoría reciente que explica la relación entre las percepciones de riesgo del sistema financiero y la política monetaria. En este artículo se presenta evidencia empírica de la evidencia del canal de toma de riesgo utilizando información detallada de créditos comerciales y de consumo del sistema bancario en Colombia. Mediante el uso de modelos probit y de duración encontramos que el sistema bancario toma riesgo cuando las tasas de interés se encuentran demasiado bajas. También encontramos que la respuesta a las tasas de interés es más alta en el caso de los créditos comerciales. | eng |
dc.description.abstract | Levels of interest rates below historical norms may have enhanced financial instability in both developed and in developing economies during the2000’s. The risk-taking channel of monetary transmission policy is a recent theory that explains the interaction between risk perceptions of the financial system and monetary policy. This paper presents empirical evidence of the risk-taking channel of monetary policy using detailed information on consumer and commercial loans from the Colombian banking system. Using probit and duration models, we find that the banking system takes on more risk when the level of interest rates are too low. We also find that the response to interest rates is higher in the case of commercial loans. | eng |
dc.format.extent | 22 páginas : gráficas, tablas | eng |
dc.format.mimetype | eng | |
dc.identifier.handle | https://hdl.handle.net/20.500.12134/6461 | spa |
dc.identifier.uri | https://repositorio.banrep.gov.co/handle/20.500.12134/6461 | |
dc.language.iso | eng | eng |
dc.publisher | Banco de la República de Colombia | spa |
dc.relation.doi | https://doi.org/10.32468/Espe.6806 | spa |
dc.relation.dotec | https://ideas.repec.org/a/col/000107/010344.html | spa |
dc.relation.ispartof | Artículos de revista | eng |
dc.relation.ispartofseries | Revista Ensayos Sobre Política Económica | eng |
dc.relation.issn | 0120-4483 | spa |
dc.relation.isversionof | Revista Ensayos Sobre Política Económica; Vol. 30. No. 68. Junio, 2012. Pág.: 276-295. | spa |
dc.relation.repec | https://ideas.repec.org/a/bdr/ensayo/v30y2012i68p276-295.html | spa |
dc.rights.accessRights | Open Access | eng |
dc.rights.cc | Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0 | eng |
dc.rights.spa | Acceso abierto | spa |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/ | eng |
dc.source.bibliographicCitation | Adrian, T.; Shin, H. “Financial Intermediaries and Monetary Economics”, Staff Reports, num. 398, Federal Reserve Bank of New York, October, 2009. | eng |
dc.source.bibliographicCitation | Altunbas, Y.; Gambacorta, L.; Marques, I. D. “An Empirical Assessment of the Risk-taking Channel”, paper presented at the BIS/ECB conference on “Monetary policy and financial stability”, 10-11 September, 2009. | eng |
dc.source.bibliographicCitation | Borio, C.; Zhu, H. “Capital Regulation, Risktaking and Monetary Policy: A Missing Link in the Transmission Mechanism”, BIS Working Papers, num. 268, December, 2008. | eng |
dc.source.handleRepec | RePEc:col:000107:010344 | spa |
dc.subject | Política monetaria | eng |
dc.subject | Toma de riesgo | eng |
dc.subject | Análisis de duración | eng |
dc.subject | Modelos probit | eng |
dc.subject.jel | E44 - Financial Markets and the Macroeconomy | eng |
dc.subject.jel | G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages | eng |
dc.subject.jel | L14 - Transactional Relationships; Contracts and Reputation; Networks | eng |
dc.subject.jelspa | E44 - Mercados financieros y macroeconomía | spa |
dc.subject.jelspa | G21 - Bancos; Instituciones de depósito; Instituciones Microfinancieras; Hipotecas | spa |
dc.subject.jelspa | L14 - Relaciones de transacción; Contratos y reputación; Redes | spa |
dc.subject.keyword | Monetary policy | eng |
dc.subject.keyword | Lending standards | eng |
dc.subject.keyword | Risk taking | eng |
dc.subject.keyword | Duration analysis | eng |
dc.subject.keyword | Probit models | eng |
dc.subject.lemb | Tasas de interés -- Estudios comparados -- 2000 | spa |
dc.subject.lemb | Crédito al consumidor -- Colombia -- 2000 | spa |
dc.subject.lemb | Riesgo (Economía) -- Colombia -- 2000 | spa |
dc.title | The risk-taking channel in Colombia revisited | eng |
dc.title.alternative | Retomar el canal de toma de riesgo en Colombia | eng |
dc.type | Article | eng |
dc.type.hasversion | Published Version | eng |
dc.type.spa | Artículo | eng |
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