dc.coverage.sucursal	Bogotá	spa
dc.creator	Suescun-Melo, Rodrigo
dc.date.accessioned	1997-06-20T08:30:10Z	eng
dc.date.available	1997-06-20T08:30:10Z	spa
dc.date.created	1997-06-20	spa
dc.date.issued	1997-06-20	eng
dc.description.abstract	This 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.	eng
dc.format.mimetype	PDF	spa
dc.identifier.handle	https://hdl.handle.net/20.500.12134/5090	spa
dc.identifier.uri	https://repositorio.banrep.gov.co/handle/20.500.12134/5090	spa
dc.language.iso	spa	spa
dc.publisher	Banco de la República	spa
dc.relation.doi	https://doi.org/10.32468/be.73	spa
dc.relation.ispartof	Documentos de Trabajo	spa
dc.relation.ispartofseries	Borradores de Economía	spa
dc.relation.isversionof	Borradores de Economía; No. 73	spa
dc.relation.number	Borrador 73	spa
dc.relation.repec	https://ideas.repec.org/p/bdr/borrec/073.html	spa
dc.rights.accessRights	Open Access	eng
dc.rights.cc	Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0	eng
dc.rights.disclaimer	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.	spa
dc.rights.spa	Acceso abierto	spa
dc.rights.uri	https://creativecommons.org/licenses/by-nc-sa/4.0/	eng
dc.source.handleRepec	RePEc:bdr:borrec:073	spa
dc.subject.jel	C73 - Stochastic and Dynamic Games; Evolutionary Games; Repeated Games	eng
dc.subject.jel	C61 - Optimization Techniques; Programming Models; Dynamic Analysis	eng
dc.subject.jel	E32 - Business Fluctuations; Cycles	eng
dc.subject.jel	E31 - Price Level; Inflation; Deflation	eng
dc.subject.jelspa	C73 - Juegos estocásticos y dinámicos; Juegos evolutivos; Juegos repetidos	spa
dc.subject.jelspa	E31 - Nivel de precios; Inflación; Deflación	spa
dc.subject.jelspa	E32 - Fluctuaciones económicas; Ciclos	spa
dc.subject.jelspa	C61 - Técnicas de optimización; Modelos de programación; Análisis dinámico	spa
dc.subject.keyword	Commodity booms	eng
dc.subject.keyword	Economy	eng
dc.subject.keyword	Coffee	eng
dc.subject.keyword	Colombia	eng
dc.subject.lemb	Enfermedad holandesa (Economía) -- Colombia	spa
dc.subject.lemb	Café -- Colombia	spa
dc.subject.lemb	Ciclos económicos -- Colombia	spa
dc.subject.lemb	Precios de productos básicos -- Colombia	spa
dc.subject.lemb	Productos básicos -- Colombia	spa
dc.title	Commodity booms, dutch disease, and real business cycles in a small open economy: the case of coffee in Colombia	spa
dc.type	Working Paper	eng
dc.type.hasversion	Published Version	eng
dc.type.spa	Documentos de trabajo	spa

Commodity booms, dutch disease, and real business cycles in a small open economy: the case of coffee in Colombia

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