Examinando por Autor "Posada Posada, Carlos Esteban"

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    Crecimiento y ciclos de la economía colombiana (2005 – 2019)
    (Universidad EAFIT, 2020-07-24) Posada Posada, Carlos Esteban
    In 2005-19 Colombian economic growth was outstanding at the international level: GDP per worker increased 2.07% per year, equivalent to 36% in those 15 years. This was possible because total factor productivity (TFP) increased. This can be affirmed in view of the fact that capital stock, in the long term, is not an explanatory factor. What was worrying was the declining trend in the growth rate of TFP; in fact, it has stagnated in the last two years. Regarding to short run dynamics, Colombian business cycles depended on the United States´s cycles both directly and through the oil price. But the intensity of the Colombian cycles (their relative distance between peaks and troughs) was greater than the exhibited by American cycles.
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    Dynamic Macroeconomics: A Didactic Numeric Model
    (Universidad EAFIT, 2018-04-28) Posada Posada, Carlos Esteban; Sánchez Gonzalez, Santiago
    Teaching Dynamic Macroeconomics at undergraduate courses relies exclusively on intuitive prose and graphics depicting behaviours and steady states of the main markets of the economy. But when the case of forward-looking agents and the macroeconomic implications of their actions are discussed, intuitions and graphical representations offered to students may lead to unsupported conclusions. This happens even if the teacher and students use the chapter upon a dynamic macroeconomic model of one of the most didactic and ordered texts ever published: Williamson (2014). In this paper we try to sustain this assertion3.
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    Efectos de reducir el impuesto a la ganancia (equilibrio parcial versus equilibrio general)
    (Universidad EAFIT, 2018-09-04) Posada Posada, Carlos Esteban
    This document presents a set of estimates on the effects of reducing the rate of income tax on enterprises in the Colombian case. The estimate made under a partial equilibrium scheme generates different and less reliable results than those based on a general equilibrium model.
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    Unconventional Monetary Policy and Inflation in the U.S.: How Much Inflation was Missing?
    (Universidad EAFIT, 2020-03-12) Posada Posada, Carlos Esteban; Torres García, Alejandro; Villca Condori, Alfredo
    The U.S. inflation rate for the period 2008-2016 was abnormally low despite the execution of a high expansive monetary policy, which has been called “the missing inflation paradox”. In this paper we estimate the missing inflation as the difference between the inflation predicted, and the observed rate using two monetarist models. The results support the adequacy of this approach to explain the inflation during 1970-2005. However, after that, the estimated missing inflation was around 3.5%-3.9% annually on average. Interestingly, this phenomenon apparently starts in 2006, previous to the beginning of the Great Recession. Although we do not present a formal explanation, the models used allow us to suspect the existence of an unusually high (and transitory) increase in the demand for real money balances.