01666cas a2200241 a 4500 AALejournalIMF009801 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451808940 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Colombia : Selected Issues. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (77 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper quantifies the dynamic effects of fiscal policy using a structural model, the Global Integrated Monetary and Fiscal Model (GIMF). The analysis finds that success of fiscal policy in enhancing macroeconomic stability depends on the type of shock, the response of monetary policy, and the length of fiscal policy implementation lags. The paper also presents the basic structure of the Bayesian VAR describing its empirical implementation and the estimation results and results from the conditional forecasting exercise and remarks. It also assesses Colombia's experience with central bank foreign exchange intervention between 2004 and 2007. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2008/032 Full text available on IMF http://elibrary.imf.org/view/journals/002/2008/032/002.2008.issue-032-en.xml IMF e-Library