The cost of collateralized borrowing in the colombian money market : does connectedness matter?

Number: 
803
Published: 
Classification JEL: 
C31, G21, G32
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy

Under the view that the market is a weighted and directed network (Barabási, 2003), this document is a first attempt to model the Colombian money market within a spatial econometrics framework. By estimating two standard spatial econometric models, we stu