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In this theoretical report, the identifiability property of a coincident index model is studied.  As a result, characterization of the identifiability conditions solves a model specification problem, which was detected in the design of an earlier index for the Colombian economy.   Key…

This article analyzes identification problems that may arise while linearizing and solving DSGE models. A criterion is proposed to determine whether or not a set of parameters is partially identifiable, in the sense of Canova and Sala (2009), based on the computation of a basis for the null space…

Evidence suggests that the Colombian interbank funds market is an inhomogeneous and hierarchical network in which a few financial institutions fulfill the role of “super-spreaders” of central bank liquidity among market participants. Results concur with evidence from other interbank markets and…

Structural VAR and Structural VEC models were estimated for Chile and Colombia, aiming at identifying fiscal policy shocks in both countries between 1990 and 2005. The impulse responses obtained allow the calculation of a peso-for-peso ($/$) effect on output of a shock to public spending and to the…

We identify interbank (i.e. non-collateralized) loans from the Colombian large-value payment system by implementing Furfine’s method. After identifying interbank loans from transactional data we obtain the interbank rates and claims without relying on financial institutions’ reported data.…

Many central banks, particularly in the developing world, aim for exchange rate stability as a macroeconomic goal. However, most are reluctant to relinquish monetary policy autonomy, so they end up operating through both interest rate and foreign exchange interventions. But the use of multiple…

Presented during IIF Global Macro Call - Conversation with Latam Policymakers. 

  Las opiniones contenidas en el presente documento son responsabilidad exclusiva del autor y no comprometen al Banco de la República ni a su Junta Directiva.    

The Executive Board of the International Monetary Fund (IMF) approved today a request by the Colombian authorities to increase access under its current Flexible Credit Line (FCL) arrangement  to 600% of Colombia’s quota, equivalent to USD 17.2 billion. The two-year arrangement remains in…

IMF Executive Board Completes Review of Colombia’s Performance under the Flexible Credit LineInternational Monetary Fund Washington, D.C. 20431 USAThe Executive Board of the International Monetary Fund (IMF) today completed its six-month review of Colombia’s qualification for the arrangement…

On May 18, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Colombia1.  

On May 19, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV1 consultation  with Colombia.  

The Executive Board of the International Monetary Fund (IMF) concluded on April 28, 2021 its review of Colombia’s qualification for the arrangement under the Flexible Credit Line (FCL) and reaffirmed Colombia’s continued qualification to access FCL resources.

On March 27, the Executive Board of the International Monetary Fund (IMF) met to finalize the Article IV annual consultation with Colombia. On March 28, the IMF published the staff report discussed at that meeting, as well as a press release summarizing the discussion that took place at the meeting…