Finance neutral potential output : an evaluation on an emerging market monetary policy context

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Borradores de Economía; No. 958

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Amador-Torres, Juan Sebastián
Banco de la República
C53 - Forecasting and Prediction Methods; Simulation Methods; E44 - Financial Markets and the Macroeconomy; E47 - Money and Interest Rates: Forecasting and Simulation: Models and Application; E52 - Monetary Policy; E37 - Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Application; Potential output; Financial cycle; Real-time data; Monetary policy; Emerging economy; Economía -- Colombia; Política monetaria -- Colombia; Ciclos financieros -- Colombia; Brecha de producción -- Colombia; Econometría -- Colombia; E37 - Precios, fluctuaciones y ciclos económicos: Predicción y simulación; Modelos y aplicación; C53 - Métodos de pronóstico y predicción; métodos de simulación; E52 - Política monetaria; E44 - Mercados financieros y macroeconomía; E47 - Dinero y tipos de interés: Predicción y simulación; Modelos y aplicación; Potential output, financial cycle, real-time data, monetary policy, emerging economy
paper description
In this paper output gaps that include financial cycle information are evaluated against models used in policy analysis by the Colombian central bank. Employing this dataset is no trivial matter, since policy related models are the only relevant yardstick