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A Seasonal Cointegration Model of Industrial Production in Colombia, 1993-2005

This article explores whether there were a long-term equilibrium relationship between industrial production and capital goods and raw material being imported to Colombia from January 1993 to April 2005. Such relationship was determined from a seasonal co-integration model; the resulting model was used for impulse response exercises and simulating the trajectory of variables which are affected by exogenous shocks.