Número:
626
Publicado:
Clasificación JEL:
C13, C32, E43, E52
Palabras clave:
Natural Rate of Interest, Unobserved Components Models, Hodrick-Prescott Filter, Semi-structural models
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Juan Sebastián Mariño-Montaña, Daniela Rodriguez-Novoa, Camilo Eduardo Sánchez-Quinto
Camilo Gómez, Mariana Escobar-Villarraga, Ligia Alba Melo-Becerra, Hector Manuel Zárate-Solano
Three methodologies to estimate the natural interest rate, NIR, are implemented for the Colombian economy. Two methods are statistical filters and the third involves some economic theory. The first method is based on unobserved components decomposition of