PDF (Español (España))
FLIP
This journal is licensed by a Creative Commons Attribution License (CC BY-NC-SA 4.0) Attribution-Non Commercial 4.0 International. For the CC licenses, the principle isthe creative freedom. This system complements the copyright without opposing it, conscious of its importance in our culture. The content of the articles is the responsibility of each author, and does not compromise in any way, to the journal or the university. It allows the transmission and reproduction of titles, abstracts and full content, with academic, scientific, cultural ends, provided acknowledgment of the respective source. This work cannot be used for commercial purposes.
They journal does not charge authors for submission or publication.
Abstract
International evidence shows that economic activity is affected by fiscal policy shocks. In this paper we characterize the dynamic effects of spending and the Colombian government revenues on GDP and aggregate demand for the period 1990-2007. This model uses a structural VAR (SVAR) with quarterly reporting. The results provide evidence of both Keynesian effects of taxation and government spending and its components (consumption and investment), although the effects are of low persistence.
Keywords:
References
Argandoña. Macroeconomía Avanzada II: fluctuaciones cíclicas y crecimiento económico. Madrid: McGraw Hill, Aravaca, 1999.
Blanchard, O. and R. Perotti, An Empirical Characterization of the Dynamic Effects of Changes in Government spending and Taxes on Output, NBER Working Paper Series, 7269, 1999.
Blanchard, Olivier. Macroeconomía. 2 edición. Madrid: Pearson Educación, 2001.
Cerda, R. A., H. González y L. F. Lagos. Efectos dinámicos de la política fiscal. Cuadernos de Economía, 42, 2005, pp. 63-77.
Constitución Política de Colombia, 2007.
Dornbusch, Rudiger, Stanly Fischer, Richard Startz. Macroeconomía. 8 edición. Madrid: McGraw Hill, Aravaca, 2002.
Fedesarrollo, Banco de la República, Bases del Plan de Desarrollo Cambio para Construir la Paz, Echeverry, J. Plan de Desarrollo Cambio para construir la paz, contexto macroeconómico. Debates CS, 12, 1999.
Galí, J., D. López-Salido and J. Vallés. Understanding the Effects of Government Spending on Consumption. NBER Working Paper Series, 11578, 2005.
Junquito, R., H. Rincón. La política fiscal en el siglo XX en Colombia. Documento preparado para el seminario Investigaciones recientes sobre historia económica colombiana Bogotá, agosto 6 de 2004, p. 88.
Lozano, Ignacio, Hernán Rincón, Jorge Ramos. Implicaciones fiscales y sectoriales de la reforma a las transferencias territoriales en Colombia. Borradores de Economía, 417, 2007.
Malo, Miguel Ángel. Macroeconomía Superior I: Microfundamentos. La elección Intertemporal. Salamanca, Universidad de Salamanca: Documentos de consulta. 2009.
Mankiw, Gregory. Macroeconomía. 4 edición. Barcelona: Antoni Bosch Editor, 2000.
Perotti, R. Estimating The Effects Of Fiscal Policy in OECD Countries. European Central Bank,Working Paper Series, 168, 2002.
Romer, David. Macroeconomía Avanzada. 2 edición. Madrid: McGraw Hill, Aravaca, 2002.
Samuelson, Paul, William D. Nordhaus. Macroeconomía. 18 edición. Madrid: McGraw Hill, Aravaca, 2006.
Walsh, C. E. Monetary Theory and Policy. Cambridge, Massachusetts, Londres. The MIT Press, segunda edición: 2003.
