Abstract

ARGUELLO C., Ricardo. Effects of the international crisis: remittances, trade and policy response in Colombia. Perf. de Coyunt. Econ. [online]. 2011, n.17, pp.7-30. ISSN 1657-4214.

The purpose of this research is to provide an approximation to the likely effects of the impact of the most important transmission channels of the international economic crisis on the Colombian economy. It also assesses the effectiveness of the most significant components of policy response. For this, a static computable general equilibrium model (CGE) is used. The results obtained are interesting in their own right and are in line with what could be expected given the information available on the behavior of the Colombian economy. Furthermore, they call into question the effectiveness of governmental intervention as judged by its intended countercyclical effects.

Keywords : International crisis; counter cyclical policy; models of computable general equilibrium; Colombia.

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