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dc.contributor.advisorBejarano Rojas, Jesús Antonio 
dc.creatorBallesteros, Alexander 
dc.date.accessioned2016-07-05T19:48:53Z
dc.date.available2016-07-05T19:48:53Z
dc.date.created2016-06-14
dc.date.issued2016
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/12209
dc.description.abstractThis paper estimates Bejarano and Charry (2014)’s small open economy with financial frictions model for the Colombian economy using Bayesian estimation techniques. Additionally, I compute the welfare gains of implementing an optimal response to credit spreads into an augmented Taylor rule. The main result is that a reaction to credit spreads does not imply significant welfare gains unless the economic disturbances increases its volatility, like the disruption implied by a financial crisis. Otherwise its impact over the macroeconomic variables is null.
dc.description.sponsorshipUniversidad del Rosario
dc.format.mimetypeapplication/pdf
dc.language.isospa
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/2.5/co/
dc.sourceinstname:Universidad del Rosario
dc.sourcereponame:Repositorio Institucional EdocUR
dc.subjectOptimal Monetary Policy
dc.subjectCredit Spreads
dc.subjectBayesian Estimation
dc.subjectColombia
dc.subject.ddcEconomía 
dc.subject.lembEconomía
dc.subject.lembPolítica monetaria
dc.subject.lembApertura económica
dc.subject.lembEconomía::Colombia
dc.titleCredit spreads and monetary policy in a small open economy: an analysis of the colombian economy
dc.typemasterThesis
dc.publisherUniversidad del Rosario
dc.creator.degreeMagíster en Economía
dc.publisher.programMaestría en Economía
dc.publisher.departmentFacultad de Economía
dc.subject.keywordOptimal Monetary Policy
dc.subject.keywordCredit Spreads
dc.subject.keywordBayesian Estimation
dc.subject.keywordColombia
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.type.spaTesis de maestría
dc.rights.accesoAbierto (Texto completo)
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
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dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombia
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