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GTAP Resource #5067

"Effects of an external shock on the economy of Bogota, Colombia"
by Arguello, Ricardo and Martin Cicowiez

We analyze the impact of the fall in international oil prices on the economy of Bogota, Colombia´s capital city. After a relatively prolonged oil price and export boom, the Colombian economy is facing a rapid landing as oil prices have fallen dramatically in the last years. Even though Bogota does not export oil or hosts important oil service activities, it is clear that its economy will be shocked as national exports drop and the exchange rate appreciates, besides any input-output linkages between its economy and that of the rest of Colombia. We use a static bi-regional general equilibrium model for this purpose, featuring labor mobility between the regions, two levels of government, and public and private investment. Our results indicate that the economy of Bogotá will be negatively impacted and that the magnitude of the shock is of a similar size to that accruing to the rest of Colombia.

Resource Details (Export Citation) GTAP Keywords
Category: 2016 Conference Paper
Status: Published
By/In: Presented at the 19th Annual Conference on Global Economic Analysis, Washington DC, USA
Date: 2016
Created: Arguello, R. (4/15/2016)
Updated: Arguello, R. (4/15/2016)
Visits: 1,202
- Economic crisis
- South America

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Comments (1 posted)
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Posted by: Al-Shamakhi, Ahmed   10/6/2016 5:45:00 AM
Dear Ricardo Arguello/Martin Cicowiez,

good day

I read your paper titled "EFFECTS OF AN EXTERNAL SHOCK ON THE ECONOMY OF BOGOTA, COLOMBIA" , and I am interested in doing the same experiment on the impact of oil price fall on Arab Gulf Countries (GCC). Unfortuantely I am still new on GTAP and i bought the last version of GTAPAgg9. I do know how to aggregate regions and sectors however, I need little help on shocking the system for oil price fall.

I really appreciate your help in assessing me how to do this experiment. And i will be happy to put your name in my paper

Best Regards,
Ahmed Salim
PhD student
Sultan Qaboos University
Email :