出版社：Universidad Nacional de Colombia - Facultad de Ciencias Económicas
摘要：This paper estimates the effect of monetary policy on economic activity in Colombia’s regions and economic sectors. In order to achieve this goal, a distributed lag model is estimated, combining regional and sectoral production data and using a measure of monetary policy shocks estimated with aggregate economy data. The results show that monetary policy mainly affects the Pacific and Caribbean regions and generates sectoral differences in the impact of monetary policy on production. These differences in sectoral impacts prove to be decisive in the regional transmission of monetary policy through the interest rate channel.
