Uncertainty in the Money supply mechanism and interbank markets in Colombia

Borradores de Economia
Number: 
790
Published: 
Classification JEL: 
E44, E52, G21
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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We set a dynamic stochastic model for the interbank daily market forfunds in Colombia. The framework features exogenous reserve requirements and requirement period, competitive trading among heterogeneouscommercial banks, daily open market operations held