SciELO - Scientific Electronic Library Online

 issue62How to distribute when there is a scarce situationLocal Commons and Cross-Effects of Population and Inequality on the Local Provision of Environmental Services author indexsubject indexarticles search
Home Pagealphabetic serial listing  

Services on Demand



Related links

  • On index processCited by Google
  • Have no similar articlesSimilars in SciELO
  • On index processSimilars in Google


Lecturas de Economía

Print version ISSN 0120-2596


GOMEZ, Wilman  and  POSADA, Carlos Esteban. A "Shock" of the Net External Assets and the Colombian Economic Cycle 1994-2001. Lect. Econ. [online]. 2005, n.62, pp.35-74. ISSN 0120-2596.

During the period 1994-2001 the Colombian economy experienced one of the most intensive I business cycles of the twenty century, mostly due to the depression phase. In this paper we made an assessment of a hypothetical cause of this business cycle: a positive (and transitory and unexpected) shock to the capital stock just before the booming period. Our assessment is based on a dynamic general equilibrium model of a small open economy calibrated with the Colombian data. The shock was able to impose a certain movement to the economy: first, a boom, and, after, a "smooth landing". So, to explain the extent of the observed recession we need to look at other causes or propagation mechanisms not incorporated in our model

Keywords : Economic cycle; dynamic model of general balance; impulse or shock; cyclical answers; I height; depression; entrances and exits of capital.

        · abstract in Spanish | French     · text in Spanish     · Spanish ( pdf )


Creative Commons License All the contents of this journal, except where otherwise noted, is licensed under a Creative Commons Attribution License