Abstract

GONZALEZ, Andrés; MAHADEVA, Lavan; PRADA, Juan D.  and  RODRIGUEZ, Diego. Policy Analysis Tool Applied to Colombian Needs: Patacon Model Description. Ens. polit. econ. [online]. 2011, vol.29, n.66, pp.222-245. ISSN 0120-4483.

In this document we lay out the microeconomic foundations of a dynamic stochastic general equilibrium model, called Policy Analysis Tool Applied to Colombian Needs (PATACON), designed as a forecast tool and as a guide to advise monetary policy authorities in Colombia. In companion documents we present other aspects of the model, including the estimation of the parameters that affect dynamics and impulse response functions.

Keywords : monetary policy; DSGE; small open economy.

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