Regional and sectoral impacts of monetary policy in Colombia
This paper estimates the effect of monetary policy on economic activity in Colombia’s regions and economic sectors. In order to achieve this goal, a distributed lag model is estimated, combining regional and sectoral production data and using a measure of monetary policy shocks estimated with aggreg...
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| Veröffentlicht in: | Cuadernos de economía (Bogotá, Colombia) Colombia), 2019-01, Vol.38 (76), p.259 |
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| container_title | Cuadernos de economía (Bogotá, Colombia) |
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| creator | Quintero Otero, Jorge David |
| description | This paper estimates the effect of monetary policy on economic activity in Colombia’s regions and economic sectors. In order to achieve this goal, a distributed lag model is estimated, combining regional and sectoral production data and using a measure of monetary policy shocks estimated with aggregate economy data. The results show that monetary policy mainly affects the Pacific and Caribbean regions and generates sectoral differences in the impact of monetary policy on production. These differences in sectoral impacts prove to be decisive in the regional transmission of monetary policy through the interest rate channel. |
| doi_str_mv | 10.15446/cuad.econ.v38n76.62538 |
| format | Article |
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| ispartof | Cuadernos de economía (Bogotá, Colombia), 2019-01, Vol.38 (76), p.259 |
| issn | 0121-4772 2248-4337 |
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| source | DOAJ Directory of Open Access Journals; PAIS Index; EZB-FREE-00999 freely available EZB journals; Alma/SFX Local Collection |
| subjects | Aggregate data Economic activity Economic models Economic sectors Inflation Interest rates Monetary policy Production Regions Time series |
| title | Regional and sectoral impacts of monetary policy in Colombia |
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