4GM: A New Model for the Monetary Policy Analysis in Colombia
| dc.audience | Researchers | eng |
| dc.audience | Students | eng |
| dc.audience | Teachers | eng |
| dc.contributor.institucion | Banco de la República - Colombia | spa |
| dc.coverage.ciudad | Bogotá | spa |
| dc.creator | González-Gómez, Andrés | spa |
| dc.creator | Guarín-López, Alexander | spa |
| dc.creator | Rodríguez, Diego | spa |
| dc.creator | Vargas-Herrera, Hernando | spa |
| dc.date.accessioned | 2020-02-28T13:57:58Z | spa |
| dc.date.available | 2020-02-28T13:57:58Z | spa |
| dc.date.created | 2020-02-28 | spa |
| dc.description.abstract | This paper introduces 4GM, a semi-structural model for monetary policy analysis and macroeconomic forecasting in Colombia. This model is based on a New-Keynesian rational expectation framework for an oil-exporting small open economy. In this paper, we present the model structure and examine the response of its variables to domestic, foreign and oil-price shocks. Further, we assess 4GM in terms of its historical shock decomposition and its out-of-sample forecasting. | eng |
| dc.format.extent | 23 páginas | spa |
| dc.format.mimetype | eng | |
| dc.identifier.uri | https://repositorio.redinvestigadores.org/handle/Riec/50 | spa |
| dc.language.iso | eng | eng |
| dc.relation.ispartof | Documentos de Trabajo | spa |
| dc.relation.number | No. 31 | spa |
| dc.relation.repec | https://ideas.repec.org/p/rie/riecdt/31.html | spa |
| dc.relation.uri | http://repositorio.banrep.gov.co/bitstream/handle/20.500.12134/9812/be_1106.pdf?sequence=4&isAllowed=y | spa |
| dc.rights.accessRights | Open Access | eng |
| dc.rights.cc | Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0 | spa |
| dc.rights.spa | Acceso abierto | spa |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/ | eng |
| dc.subject.jel | E17 - General Aggregative Models: Forecasting and Simulation: Models and Application | eng |
| dc.subject.jel | E37 - Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Application | eng |
| dc.subject.jel | E47 - Money and Interest Rates: Forecasting and Simulation: Models and Application | eng |
| dc.subject.jel | E52 - Monetary Policy | eng |
| dc.subject.jel | E58 - Central Banks and Their Policies | eng |
| dc.subject.keyword | Semi-structural model | eng |
| dc.subject.keyword | Monetary policy | eng |
| dc.subject.keyword | Macroeconomic forecasting | eng |
| dc.subject.lemb | Política monetaria -- Colombia | spa |
| dc.subject.lemb | Sistema monetario -- Colombia | spa |
| dc.subject.lemb | Bancos centrales -- Colombia | spa |
| dc.title | 4GM: A New Model for the Monetary Policy Analysis in Colombia | eng |
| dc.type | Working paper | eng |
| dc.type.hasversion | Published Version | eng |
| dc.type.spa | Documentos de Trabajo | spa |
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