t e π Eπ Y r i v

-2 0 2 2 100 2 4 0
-1 0 2 2 100 2 4 0
0 0 2.73846154 2 99.7538462 2.24615385 4.98461538 0.8
1 0 2.6816568 2 99.7727811 2.22721893 4.90887574 0
2 0 2.62922167 2 99.7902594 2.20974056 4.83896222 0
3 0 2.58082 2 99.8063933 2.19360667 4.77442667 0
4 0 2.53614154 2 99.8212862 2.17871385 4.71485538 0
5 0 2.49489988 2 99.8350334 2.16496663 4.65986651 0
6 0 2.45683066 2 99.8477231 2.15227689 4.60910755 0
7 0 2.42168984 2 99.8594367 2.14056328 4.56225312 0
8 0 2.38925216 2 99.8702493 2.12975072 4.51900288 0
9 0 2.35930969 2 99.8802301 2.1197699 4.47907958 0
10 0 2.33167048 2 99.8894432 2.11055683 4.44222731 0
11 0 2.30615737 2 99.8979475 2.10205246 4.40820982 0
12 0 2.2826068 2 99.9057977 2.09420227 4.37680907 0
13 0 2.26086781 2 99.9130441 2.08695594 4.34782375 0
14 0 2.24080106 2 99.919733 2.08026702 4.32106808 0
15 0 2.2222779 2 99.9259074 2.07409263 4.29637053 0
16 0 2.2051796 2 99.9316068 2.0683932 4.2735728 0
17 0 2.18939655 2 99.9368678 2.06313218 4.25252874 0
18 0 2.17482759 2 99.9417241 2.05827586 4.23310345 0
19 0 2.16137931 2 99.9462069 2.0537931 4.21517242 0
20 0 2.14896552 2 99.9503448 2.04965517 4.19862069 0

πt* 2
α 1
ρ 2
φ 0.25
θπ 0.5
θY 0.5
Y̅ 100
 Producción
100.05 3
100
2.5
99.95
99.9 2
99.85
1.5
Y 99.8 π
99.75 1
99.7
0.5
99.65
99.6 0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -2 -1 0 1 2 3 4
t

Tasa de interés real Tasa

2.3
6
2.25
2.2 5
2.15 4
2.1
3
r 2.05 i
2 2
1.95
1.9 1
1.85
0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
-2 -1 0 1 2 3 4 5
t
 Inflación
3

2.5

1.5
π
1

0.5

0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t

Tasa de interés nominal

6

3
i
2

0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t
t e π Eπ Y r i v
-2 0 2 2 100 2 4 0
-1 0 2 2 100 2 4 0
0 0.6 2.09230769 2 100.369231 2.23076923 4.32307692 0
1 0.6 2.17751479 2 100.340828 2.2591716 4.43668639 0
2 0.6 2.2561675 2 100.314611 2.28538917 4.54155667 0
3 0.6 2.32877 2 100.29041 2.30959 4.63836 0
4 0.6 2.39578769 2 100.268071 2.33192923 4.72771692 0
5 0 2.36534249 2 99.8782192 2.12178083 4.48712331 0
6 0 2.33723922 2 99.8875869 2.11241307 4.44965229 0
7 0 2.31129774 2 99.8962341 2.10376591 4.41506365 0
8 0 2.28735176 2 99.9042161 2.09578392 4.38313568 0
9 0 2.26524778 2 99.9115841 2.08841593 4.3536637 0
10 0 2.2448441 2 99.9183853 2.0816147 4.3264588 0
11 0 2.22600994 2 99.9246634 2.07533665 4.30134659 0
12 0 2.20862456 2 99.9304585 2.06954152 4.27816608 0
13 0 2.19257652 2 99.9358078 2.06419217 4.25676869 0
14 0 2.17776294 2 99.9407457 2.05925431 4.23701725 0
15 0 2.16408887 2 99.9453037 2.05469629 4.21878516 0
16 0 2.15146665 2 99.9495111 2.05048888 4.20195553 0
17 0 2.13981537 2 99.9533949 2.04660512 4.18642049 0
18 0 2.12906034 2 99.9569799 2.04302011 4.17208045 0
19 0 2.11913262 2 99.9602891 2.03971087 4.15884349 0
20 0 2.10996857 2 99.9633438 2.03665619 4.14662476 0

πt* 2
α 1
ρ 2
φ 0.25
θπ 0.5
θY 0.5
Y̅ 100
 Producción
100.5 2.5
100.4 2.4
100.3
2.3
100.2
100.1 2.2
Y 100 π 2.1
99.9
2
99.8
99.7 1.9
99.6 1.8
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -2 -1 0 1 2 3 4
t

Tasa de interés real Tasa

2.4 4.8

2.3 4.6

2.2 4.4

2.1 4.2
r i
2 4

1.9 3.8

1.8 3.6
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -2 -1 0 1 2 3 4
t
 Inflación
2.5
2.4

2.3

2.2
π 2.1

1.9
1.8
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t

Tasa de interés nominal

4.8

4.6

4.4

4.2
i
4

3.8

3.6
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t
t e π Eπ Y r i v
-2 0 2 2 100 2 4 0
-1 0 2 2 100 2 4 0
0 0 1.72307692 2 100.092308 1.90769231 3.63076923 -0.3
1 0 1.7443787 2 100.085207 1.9147929 3.6591716 0
2 0 1.76404188 2 100.078653 1.92134729 3.68538917 0
3 0 1.7821925 2 100.072602 1.9273975 3.70959 0
4 0 1.79894692 2 100.067018 1.93298231 3.73192923 0
5 0 1.81441254 2 100.061862 1.93813751 3.75255006 0
6 0 1.8286885 2 100.057104 1.94289617 3.77158467 0
7 0 1.84186631 2 100.052711 1.94728877 3.78915508 0
8 0 1.85403044 2 100.048657 1.95134348 3.80537392 0
9 0 1.86525887 2 100.044914 1.95508629 3.82034516 0
10 0 1.87562357 2 100.041459 1.95854119 3.83416476 0
11 0 1.88519099 2 100.03827 1.96173033 3.84692132 0
12 0 1.89402245 2 100.035326 1.96467415 3.8586966 0
13 0 1.90217457 2 100.032608 1.96739152 3.86956609 0
14 0 1.9096996 2 100.0301 1.96989987 3.87959947 0
15 0 1.91664579 2 100.027785 1.97221526 3.88886105 0
16 0 1.92305765 2 100.025647 1.97435255 3.8974102 0
17 0 1.92897629 2 100.023675 1.97632543 3.90530172 0
18 0 1.93443965 2 100.021853 1.97814655 3.91258621 0
19 0 1.93948276 2 100.020172 1.97982759 3.91931034 0
20 0 1.94413793 2 100.018621 1.98137931 3.92551724 0

πt* 2
α 1
ρ 2
φ 0.25
θπ 0.5
θY 0.5
Y̅ 100
 Producción
100.1 2.05
100.08 2
1.95
100.06
1.9
100.04 1.85
100.02 1.8
Y π
100 1.75
1.7
99.98
1.65
99.96 1.6
99.94 1.55
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -2 -1 0 1 2 3
t

Tasa de interés real Tas

2.02 4.1
2
4
1.98
3.9
1.96
1.94 3.8
r
i 3.7
1.92
1.9 3.6
1.88 3.5
1.86
3.4
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
-2 -1 0 1 2 3 4
t
 Inflación
2.05
2
1.95
1.9
1.85
1.8
π
1.75
1.7
1.65
1.6
1.55
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t

Tasa de interés nominal

4.1

4
3.9

3.8
i 3.7

3.6
3.5

3.4
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t
t e π Eπ Y r i v
-2 0 2 2 100 2 4 0
-1 0 2 2 100 2 4 0
0 -0.8 1.87692308 2 99.5076923 1.69230769 3.56923077 0
1 -0.8 1.76331361 2 99.5455621 1.65443787 3.41775148 0
2 -0.8 1.65844333 2 99.5805189 1.61948111 3.27792444 0
3 -0.8 1.56164 2 99.6127867 1.58721333 3.14885333 0
4 -0.8 1.47228308 2 99.6425723 1.55742769 3.02971077 0
5 -0.8 1.38979976 2 99.6700667 1.52993325 2.91973302 0
6 -0.8 1.31366132 2 99.6954462 1.50455377 2.81821509 0
7 -0.8 1.24337968 2 99.7188734 1.48112656 2.72450624 0
8 -0.8 1.17850432 2 99.7404986 1.45950144 2.63800576 0
9 -0.8 1.11861937 2 99.7604602 1.43953979 2.55815916 0
10 -0.8 1.06334096 2 99.7788863 1.42111365 2.48445461 0
11 -0.8 1.01231473 2 99.7958951 1.40410491 2.41641964 0
12 -0.8 0.9652136 2 99.8115955 1.38840453 2.35361813 0
13 -0.8 0.92173563 2 99.8260881 1.37391188 2.2956475 0
14 -0.8 0.88160212 2 99.839466 1.36053404 2.24213616 0
15 -0.8 0.8445558 2 99.8518147 1.34818527 2.19274107 0
16 -0.8 0.8103592 2 99.8632136 1.3367864 2.1471456 0
17 -0.8 0.77879311 2 99.8737356 1.32626437 2.10505748 0
18 -0.8 0.74965518 2 99.8834483 1.31655173 2.0662069 0
19 -0.8 0.72275863 2 99.8924138 1.30758621 2.03034483 0
20 -0.8 0.69793104 2 99.9006897 1.29931035 1.99724139 0

πt* 2
α 1
ρ 2
φ 0.25
θπ 0.5
θY 0.5
Y̅ 100
 Producción
100.1 2.5
100
99.9 2
99.8
99.7 1.5
Y 99.6 π
1
99.5
99.4
0.5
99.3
99.2 0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -2 -1 0 1 2 3 4 5
t

Tasa de interés real Tasa de

2.5 4.5
4
2 3.5
3
1.5 2.5
r i 2
1
1.5
1
0.5
0.5
0 0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -2 -1 0 1 2 3 4 5

t
 Inflación
2.5

1.5

π
1

0.5

0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t

Tasa de interés nominal

4.5
4
3.5
3
2.5
i 2
1.5
1
0.5
0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t
t e π Eπ Y r i v
-2 0 2 2 100 2 4 0
-1 0 2 2 100 2 4 0
0 0 1.63076923 2 100.123077 1.87692308 3.50769231 -0.4
1 0 1.6591716 2 100.113609 1.88639053 3.54556213 0
2 0 1.68538917 2 100.10487 1.89512972 3.58051889 0
3 0 1.70959 2 100.096803 1.90319667 3.61278667 0
4 0 1.73192923 2 100.089357 1.91064308 3.64257231 0
5 0 1.75255006 2 100.082483 1.91751669 3.67006675 0
6 0 1.77158467 2 100.076138 1.92386156 3.69544623 0
7 0 1.78915508 2 100.070282 1.92971836 3.71887344 0
8 0 1.80537392 2 100.064875 1.93512464 3.74049856 0
9 0 1.82034516 2 100.059885 1.94011505 3.76046021 0
10 0 1.83416476 2 100.055278 1.94472159 3.77888635 0
11 0 1.84692132 2 100.051026 1.94897377 3.79589509 0
12 0 1.8586966 2 100.047101 1.95289887 3.81159547 0
13 0 1.86956609 2 100.043478 1.95652203 3.82608812 0
14 0 1.87959947 2 100.040134 1.95986649 3.83946596 0
15 0 1.88886105 2 100.037046 1.96295368 3.85181473 0
16 0 1.8974102 2 100.034197 1.9658034 3.8632136 0
17 0 1.90530172 2 100.031566 1.96843391 3.87373563 0
18 0 1.91258621 2 100.029138 1.97086207 3.88344827 0
19 0 1.91931034 2 100.026897 1.97310345 3.89241379 0
20 0 1.92551724 2 100.024828 1.97517241 3.90068965 0

πt* 2
α 1
ρ 2
φ 0.25
θπ 0.5
θY 0.5
Y̅ 100
 Producción
100.14 2.5
100.12
100.1 2
100.08
100.06
1.5
100.04
Y 100.02 π
1
100
99.98
99.96 0.5
99.94
99.92 0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -2 -1 0 1 2 3 4
t

Tasa de interés real Tasa

2.05 4.1
4
2 3.9
3.8
1.95 3.7
r i 3.6
1.9
3.5
3.4
1.85
3.3
1.8 3.2
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -2 -1 0 1 2 3 4

t
 Inflación
2.5

1.5

π
1

0.5

0
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t

Tasa de interés nominal

4.1
4
3.9
3.8
3.7
i 3.6
3.5
3.4
3.3
3.2
-2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
t