Placement
Director: Roger Gordon 858.534.4828
Placement
Officer:
HOME
ADDRESS AND TELEPHONE OFFICE
ADDRESS AND TELEPHONE
Department of Economics, 0508
La Jolla, CA
92037-1358 9500
Gilman Drive
Tel: (858) 622-0985 La
Jolla, CA 92093
Fax:
(858) 534-7040 858.622-0985
DATE
OF BIRTH: February
4th 1976 GENDER: Male CITIZENSHIP:
Colombian (F1 visa)
UNDERGRADUATE
STUDIES:
Bachelor
of Arts Universidad
(1993-1998) Major:
Economics (Summa cum Laude)
GRADUATE
STUDIES:
Doctor
of Philosophy
DATES: 2000-2004
THESIS
TITLE: Essays on the effect of information on
Monetary Policy
EXPECTED
COMPLETION DATE: August
2004
THESIS
COMMITTEE AND REFERRENCES:
Marjorie
Flavin James
D. Hamilton Valerie
Ramey
Department
of Economics, Department of Economics Department of
Economics
University
of California, San Diego University of California, San Diego University of California, San
Diego
La Jolla, CA 92093 La
Jolla, CA 92093 La
Jolla, CA 92093
(858)534-4649 (858)534-5986 (858)534-2388
mflavin@econ.ucsd.edu jhamilton@econ.ucsd.edu vramey@econ.ucsd.edu
DESIRED
TEACHING AND RESEARCH:
Primary Fields: Public
Policy, Econometrics.
Secondary Fields:
Macroeconomics,
Monetary Economics.
TEACHING
EXPERIENCE:
01/2004-present
Research
Assistant and Instructor for upper division Econometrics,
and Intermediate Microeconomics.
09/2000-2003
Teaching
assistant for upper division Econometrics, Public Policy,
Latin
American Economics, Operations Research and Energy Economics
08/1998-06/2000 Universidad de los Andes (Bogotá, Colombia)
Instructor for undergraduate
Econometrics.
08/1998-06/2000 Universidad
del Rosario (Bogotá, Colombia)
Instructor for undergraduate
Econometrics.
09/1997-06/1998 Universidad del Valle (Cali, Colombia)
Instructor for undergraduate
Econometrics and Principles of
Economics.
01/1996-07/1997 Universidad del Valle (Cali, Colombia)
Teaching Assistant for
undergraduate Econometrics, Quantitative Instruments
and Descriptive Economics.
RELEVANT
POSITIONS HELD:
08/1998-08/2000 Banco de la República (Central Bank of
Colombia)
Economist Specialized on
Inflation
04/1997-08/1997 Colciencias (Colombian National Science
Foundation)
Researcher for project ‘The
State of the Economic Research in
01/1997-04/1997 Dane (Colombian National Department of
Statistics)
Research Assistant
06/1996-03/1997 Colciencias (Colombian National Science
Foundation)
Research Assistant for project ‘Investment Models
and Capital Markets in
HONORS,
SCHOLARSHIPS, AND FELLOWSHIPS:
10/2003
Teaching Assistant Excellence Award 2002-2003
05/2000 Banco de la República (Central Bank of
Scholarship award for
Doctoral Studies
05/1998 Universidad
Summa Cum Laude dissertation
and Best Graduate Award
06/1993 Colegio Franciscano de Pio XII (Cali,
Colombia)
PIO XII Medal for academic
excellence
RESEARCH
IN PROGRESS:
Chronicle of the Liquidity Effect Foretold
(Job Market paper)
Conventional accounts of the immediate mechanism
whereby the Federal Reserve raises short-term interest rates require the Fed to
reduce the supply of reserves in order to raise interest rates. This paper
shows in popular monetary models that although the Fed can have an immediate
effect on interest rates purely by announcing a change in the target without
changing reserves, these models imply that by the end of the maintenance
period, one should see some combination of a drop in non- borrowed reserves,
drop in excess reserves, or increase in borrowed reserves in order to ratify
the Fed's intended interest rate hike.
Using aggregate reserves of depository institutions
data, this paper looks at what happens to various reserve measures during
maintenance periods in which there was a change in the Fed funds target. An
institutionally motivated time-varying parameter model is built to predict each
monetary aggregate. Using three different measures of monetary policy, two of
an unanticipated change in the funds target and the change in the target
itself, a negative correlation between the target change and what happens to
three of the five corresponding reserve aggregates is found. The sign and
magnitude of the finding for the target is consistent with the standard results
from the literature regarding the liquidity effect. Nevertheless, these results
are not replicated when using the proxies for unanticipated changes.
Monetary
Policy in Retrospective: A Taylor Rule inspired exercise.
A time varying backward looking Taylor rule, that is,
a Taylor rule in which the coefficients change over time is estimated over the
period 1954-2003 using current (revised) data and the years 1965-1998 using
real time (unrevised) data. The findings seem to show that during the 1970s a
first attempt was made in order to respond to inflation but later policymakers
seemed to have stopped trying. The change to a higher response to inflation was
a gradual one and it reached its peak in 1982. After that, the response was
consistent and although a little bit different depending on the type of data
used, the variation was clearly along the lines of the
WORKING PAPERS:
Carlos Huertas & Munir A. Jalil, .2000 "Relación entre el Índice de
Precios del Productor (IPP) y el Indice de Precios al
Consumidor," Borradores de Economia 144, Banco de la Republica de
Colombia
Munir A. Jalil & Luis Fernando Melo, 2000.
"Una Relación no Líneal entre Inflación y los Medios de Pago," Borradores de Economia 145, Banco de la Republica de
Colombia
PUBLICATIONS:
Munir A. Jalil & Boris
Salazar, 1999, "The State of the academic research in
PROFESSIONAL
ACTIVITIES:
Journal Referee: American Economic Review
Memberships: American Economic Association, Econometric
Society and American
Statistical Association.