Finance neutral potential output : an evaluation on an emerging market monetary policy context

Number: 
958
Published: 
Classification JEL: 
E44, E47, E52, E37, C53
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy

In this paper output gaps that include financial cycle information are evaluated against models used in policy analysis by the Colombian central bank. Employing this dataset is no trivial matter, since policy related models are the only relevant yardstick