Estimations of the natural rate of interest in Colombia

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Borradores de Economía; No. 626

Date published

2010-11-13

Date

2010-11-13

Authors

González-Molano, Eliana Rocío
Melo-Velandia, Luis Fernando
Rojas, Luis Eduardo
Rojas, Brayan

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ISBN

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

Three methodologies to estimate the natural interest rate, NIR, are implemented for the Colombian economy. Two methods are statistical filters and the third involves some economic theory. The first method is based on unobserved components decomposition of

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JEL Codes

E52 - Monetary Policy

Temática

Keywords

Keywords

Natural rate of interest , Unobserved components models , Hodrick-Prescott filter , Semi-structural models

Citation

URI

https://repositorio.banrep.gov.co/handle/20.500.12134/5643
 https://hdl.handle.net/20.500.12134/5643
 https://ideas.repec.org/p/bdr/borrec/626.html
 https://doi.org/10.32468/be.626

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