Financial Accelerator Mechanism in a Small Open Economy

Citation data:

Banco de la Republica de Colombia, Borradores de Economia, No: 525

Publication Year:
2008
Usage 1342
Abstract Views 909
Downloads 433
Citations 12
Citation Indexes 12
Repository URL:
http://repositorio.banrep.gov.co/handle/20.500.12134/5542
RePec URLs:
https://ideas.repec.org/p/bdr/borrec/525.html; https://ideas.repec.org/p/col/000094/004992.html
Author(s):
López-Piñeros, Martha Rosalba; Prada-Sarmiento, Juan David; Rodríguez-Niño, Norberto
Publisher(s):
Banco de la República
Tags:
E44 - Financial Markets and the Macroeconomy; E32 - Business Fluctuations; Cycles; C15 - Statistical Simulation Methods: General; C11 - Bayesian Analysis: General; E52 - Monetary Policy; DSGE modelling; Financial accelerator; Bayesian estimation; Análisis Bayesiano; Ciclos económicos -- Colombia -- 1998-1999; Mercado financiero -- Colombia -- 1998-1999; Política monetaria -- Colombia -- 1998-1999; E32 - Fluctuaciones económicas; Ciclos; E52 - Política monetaria; E44 - Mercados financieros y macroeconomía; C11 - Análisis bayesiano: generalidades; C15 - Métodos de simulación estadística: generalidades; DSGE modelling, Financial Accelerator, Bayesian Estimation.
paper description
Using Bayesian estimation techniques, we estimate a small open economy DSGE model with credit-market imperfections for the Colombian economy. Using the estimated model we investigate what are the sources of business cycle fluctuations. We show that balanc