Crisis financieras y efectividad de la política de prestamista de última instancia : un modelo de equilibrio general dinámico para el caso colombiano

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dc.audiencePolicymakerseng
dc.audienceResearcherseng
dc.audienceStudentseng
dc.audienceTeacherseng
dc.coverage.sucursalBogotáspa
dc.creatorTorres, Alejandro
dc.creatorRhenals, Remberto
dc.creatorGómez, Wilman
dc.date.accessioned2010-08-01T08:30:10Zeng
dc.date.available2010-08-01T08:30:10Zeng
dc.date.created2010-08-01spa
dc.date.issued2010-08eng
dc.descriptionThe current global financial crisis, which unfolded in the US during 2008, has put the importance of the financial system in the economy, the potential economic policies available to support it and their short and long term implications back into the academic and political debate. This article explores the possible effects of the Lender of Last Resort Policy of central banks on the process of overcoming financial crises and its implications in terms of growth. To this end, we used a customized Dynamic General Equilibrium Model which explicitly includes the financial system and the Liquidity Support policy of the central bank. The simulations have shown that this type of policy facilitates overcoming financial crises in less time, but that they also delay the economy’s readjustment in the long term and increase its volatility.eng
dc.description.abstractThe current global financial crisis, which unfolded in the US during 2008, has put the importance of the financial system in the economy, the potential economic policies available to support it and their short and long term implications back into the academic and political debate. This article explores the possible effects of the Lender of Last Resort Policy of central banks on the process of overcoming financial crises and its implications in terms of growth. To this end, we used a customized Dynamic General Equilibrium Model which explicitly includes the financial system and the Liquidity Support policy of the central bank. The simulations have shown that this type of policy facilitates overcoming financial crises in less time, but that they also delay the economy’s readjustment in the long term and increase its volatility.eng
dc.format.extent35 páginas : gráficas, tablasspa
dc.format.mimetypePDFspa
dc.identifier.handlehttps://hdl.handle.net/20.500.12134/6413spa
dc.identifier.urihttps://repositorio.banrep.gov.co/handle/20.500.12134/6413
dc.language.isospaspa
dc.publisherBanco de la República de Colombiaspa
dc.relation.doihttps://doi.org/10.32468/Espe.6107spa
dc.relation.dotechttps://ideas.repec.org/a/col/000107/008325.htmlspa
dc.relation.ispartofArtículos de revistaspa
dc.relation.ispartofseriesRevista Ensayos Sobre Política Económicaspa
dc.relation.issn0120-4483spa
dc.relation.isversionofRevista Ensayos Sobre Política Económica; Vol. 28. No. 61. Agosto, 2010. Pág.: 272-306.spa
dc.relation.repechttps://ideas.repec.org/a/bdr/ensayo/v28y2010i61p272-306.htmlspa
dc.rights.accessRightsOpen Accesseng
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0eng
dc.rights.spaAcceso abiertospa
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/eng
dc.source.bibliographicCitationAmieva, J.; Urriza B. “Crisis bancarias: causas, costos, duración, efectos y opciones de política”, Serie Política Fiscal, no. 108, CEPAL, 2000.spa
dc.source.bibliographicCitationArias, A. F. “The Colombian Banking Crisis: Macroeconomic Consequences and What to Expect”, Borradores de Economía, no. 157, Bogotá, Banco de la República de Colombia, 2000.spa
dc.source.bibliographicCitationBernanke, B.; Blinder, A. “Banking and Macroeconomic Equilibrium”, en W. Barnett y K. Singleton (Eds.), New Approaches to Monetary Economics, Cambridge, Cambridge University Press, 1987.spa
dc.source.handleRepecRePEc:col:000107:008325spa
dc.subjectSistema financierospa
dc.subjectCrisis económicaspa
dc.subjectPrestamista de última instanciaspa
dc.subjectPolítica económicaspa
dc.subject.jelE42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systemseng
dc.subject.jelE52 - Monetary Policyeng
dc.subject.jelE58 - Central Banks and Their Policieseng
dc.subject.jelspaE42 - Sistemas monetarios; Patrones; Regímenes; Gobierno y sistema monetario; Sistemas de pagospa
dc.subject.jelspaE52 - Política monetariaspa
dc.subject.jelspaE58 - Bancos centrales y sus políticasspa
dc.subject.keywordFinancial systemeng
dc.subject.keywordEconomic crisiseng
dc.subject.keywordLender of last resorteng
dc.subject.keywordEconomic policyeng
dc.subject.lembSistema financiero -- Colombiaspa
dc.subject.lembPrestamista en última instancia -- Colombiaspa
dc.subject.lembCrisis económica -- Colombiaspa
dc.subject.lembColombia -- Política económicaspa
dc.titleCrisis financieras y efectividad de la política de prestamista de última instancia : un modelo de equilibrio general dinámico para el caso colombianospa
dc.title.alternativeFinancial crises and effectiveness of the lender of last resort policy : a dynamic general equilibrium model for the colombian casespa
dc.typeArticleeng
dc.type.hasversionPublished Versioneng
dc.type.spaArtículospa

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Crisis financieras y efectividad de la política de prestamista de última instancia : un modelo de equilibrio general dinámico para el caso colombiano
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Año: 2010 - Vol. 28 - No. 61