Abstract

VASQUEZ BEDOYA, Fredy; RESTREPO OCHOA, Sergio Iván; LOPERA CASTANO, Mauricio  and  RESTREPO ESTRADA, María Isabel. Departmental Economic Cycles in Colombia, 1960-2011. Rev.econ.inst. [online]. 2014, vol.16, n.30, pp.271-295. ISSN 0124-5996.

We estimated the GDP cycle for Colombia and some departments in the period 1960-2011. The Nelson and Plosser (1982) model of local lineal tendency is employed. The correlation coefficient between the cyclic component of the national and departmental GDP series is also employed. Thus, the co-movements between national and departmental economies are classified in three categories: strongly procyclical, procyclical and acyclic. The results show a diversity on the behavior of the departmental economic fluctuations with respect to the national one. Additionally, it is found that the strongly procyclical departmental economies are the richest and most diversified.

Keywords : Economic cycles; filtering techniques; analysis shift-share.

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