Risk, aggregate demand, and commodity prices : an application to Colombia

Número: 
859
Publicado: 
Clasificación JEL: 
F32, F37, F41, F31, F47, E58
Palabras clave: 
Global risk, Financial linkages, Commodity Prices

We embed a small open economy model for Colombia into the global risk model of Gómez-Pineda, Guillaume, and Tanyeri (2014). The small open economy model is estimated by Bayesian methods and used for analysis and projections. The model enable us to give a