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Policy Analysis Tool Applied to Colombian Needs: Patacon Model Description

Author

Listed:
  • Andrés González
  • Lavan Mahadeva
  • Juan D. Prada
  • Diego Rodríguez
Abstract
In this document we lay out the microeconomic foundations of a dynamic stochastic general equilibrium model, called Policy Analysis Tool Applied to Colombian Needs (PATACON), designed as a forecast tool and as a guide to advise monetary policy authorities in Colombia. In companion documents we present other aspects of the model, including the estimation of the parameters that affect dynamics and impulse response functions.

Suggested Citation

  • Andrés González & Lavan Mahadeva & Juan D. Prada & Diego Rodríguez, 2011. "Policy Analysis Tool Applied to Colombian Needs: Patacon Model Description," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 29(66), pages 222-245, December.
    • Handle: RePEc:bdr:ensayo:v:29:y:2011:i:66:p:222-245
    DOI: 10.32468/Espe.6606
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    References listed on IDEAS

    as
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    2. Andrés González & Sergio Ocampo & Diego Rodríguez & Norberto Rodríguez, 2012. "Asimetrías del empleo y el producto, una aproximación de equilibrio general," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 30(68), pages 218-272, June.
    3. Martha Misas A. & Enrique López E. & Juan Carlos Parra A., 2013. "La formación de precios en las empresas colombianas: evidencia a partir de una encuesta directa," Investigación Conjunta-Joint Research, in: Laura Inés D'Amato & Enrique López Enciso & María Teresa Ramírez Giraldo (ed.), Dinámica inflacionaria, persistencia y formación de precios y salarios, edition 1, chapter 11, pages 273-348, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    4. Juan Manuel Julio & Héctor Manuel Zárate & Manuel Dario Hernández, 2010. "The Stickiness of Colombian Consumer Prices," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 28(63), pages 100-153, December.
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    7. Andrés González Gómez & Lavan Mahadeva & Diego Rodríguez & Luis Eduardo Rojas, 2009. "Monetary Policy Forecasting In A Dsge Model With Data That Is Uncertain, Unbalanced And About The Future," Borradores de Economia 5480, Banco de la Republica.
    8. Martha López & Juan David Prada & Norberto Rodríguez, 2009. "Evidence for a financial accelerator in a small open economy, and implications for monetary policy," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 27(60), pages 12-45, December.
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    More about this item

    Keywords

    Monetary policy; DSGE; Small open economy;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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