Clculo de las variaciones en la productividad laboralNoviembre 18 de 2013

El artculo 8 de la Ley 278 de 1996, modificado mediante sentencia de la Corte Constitucional (C815/99), establece que para fijar el salario mnimo legal se debe tener en cuenta:La meta de inflacin del ao siguiente, fijada por el Banco de la RepblicaLa productividad acordada por el comit tripartito de productividadLa contribucin del salario al ingreso nacionalEl incremento del Producto Interno BrutoLa inflacin real del ao que culminaParmetros legales para el incremento del salario mnimo

La meta de inflacin del ao siguiente, fijada por el Banco de la RepblicaLa productividad acordada por el comit tripartito de productividadLa contribucin de la remuneracin al ingreso nacionalEl incremento del Producto Interno BrutoLa inflacin real del ao que culminaEl clculo de la productividad es una de las claves del ejercicioEl artculo 8 de la Ley 278 de 1996, modificado mediante sentencia de la Corte Constitucional (C815/99), establece que para fijar el salario mnimo legal se debe tener en cuenta:Parmetros legales para el incremento del salario mnimo

PTFElementos Metodolgicos

El uso convencional para estimar la productividad es a partir de una funcin de produccin, la cual representa la tecnologa.

La funcin ms difundida es la Cobb Douglas la cual impone la condicin de elasticidad de substitucin constante e igual a uno entre los factores capital y trabajo. Aunque no es necesario, se asumen rendimientos constantes a escala.

El resultado convencional es que a cada factor se le paga el valor de su productividad marginal. Por lo tanto, el valor agregado de la produccin se distribuye de acuerdo con esta regla entre los factores. Las participaciones factoriales de la funcin, se pueden obtener a partir de estimaciones economtricas. Las cuales pueden de forma lineal o en trminos logartmicos.

Alternamente, se pueden deducir estas participaciones de las estadsticas de distribucin del ingreso compiladas por el Sistema de Cuentas Nacionales (SCN). Este el mtodo de la contabilidad del crecimiento.

Esta alternativa es usada por las agencias y el Gobierno. Ver por ejemplo: el manual para la medicin del capital de la OECD (2001); el Bureau of Labor Statistics (BLS), el Bureau of Economic Analysis (BEA) en USA; y el Australian Bureau of Statistics (ABS) entre otros.

Cmo se calcula la PTF?

Y es el PIBA es la PTF (o productividad) L es el nmero de ocupadosK es el stock de capital calculado a partir de la metodologa de inventario permanente y se asume una tasa de depreciacin de que ha sido estimada con diferentes mtodos. es la participacin del empleo en la renta nacional total(1-) es la participacin del empleo en la renta nacional total

Cmo se calcula la PTF?Cmo se calcula la PTF?

Se puede realizar de muchas maneras, con funciones extendidas que adems de los factores de capital y trabajo se incluyen elementos de control como la capacidad utilizada, la tasa natural de desempleo o las importaciones de bienes de capital.

Otro elemento que influye en el valor de la productividad es la forma como se calculan los factores de la produccin. Una manera es incluirlos con sus valores brutos o totales, solamente construyendo los stocks a partir del mtodo de inventario permanente.

La otra alternativa es construir los stocks de los factores en forma ponderada. Ello genera mayor capacidad analtica a los resultados obtenidos. Este enfoque se conoce como el mtodo de servicios factoriales.

Cmo se calcula la PTF?: En general la PTF es calculada a partir del residuo de la funcin de produccin

Este enfoque reconoce una diferencia relevante en los efectos que tiene sobre el crecimiento de la produccin la acumulacin de activos o la oferta de trabajo es su calidad o calificacin.

Al no ser introducidos explcitamente los aspectos de calidad y eficiencia en la funcin de produccin, se acumulan estos elementos en el residuo. Ello conlleva a conclusiones errneas sobre los aportes parciales de cada factor y el comportamiento de la productividad multifactorial.Una valoracin inadecuada de estos servicios introduce errores de medicin sobre la contribucin del factor al crecimiento. Por ejemplo, hay que tener en cuenta que los activos de capital de ltima generacin son ms productivos que los activos de generaciones anteriores.

Una medicin del acervo de capital en unidades fsicas no logra capturar estas diferencias en la calidad de la inversin y por tanto subestima su aporte a la produccin.

Las implicaciones de esta omisin son la subestimacin de la contribucin del factor capital y la sobreestimacin del residuo.

Cmo se calcula la PTF?: Mtodo de servicios factoriales

En literatura relevante en este contexto se observa que en las estimaciones oficiales, se opta por el enfoque de la funcin de produccin (Mishkin 2007, CBO 2001, EPC 2001) en paralelo con alguna tcnica de filtros univariados para el clculo de medidas de tendencia del empleo, la productividad.

En Estados Unidos por ejemplos en las distintas agencias de estadsticas combinan mtodos univariados con base en el filtro de Hodrick-Prescott, filtros con intervalos de confianza y la funcin de produccin.

En los organismos de carcter multilateral como OECD, la Comisin de la Unin Europea, entre otros, recurren a alguna versin de la funcin de produccin. Las referencias en este contexto son amplias (Ver por ejemplo Cotis, Elmeskov y Mourorougane, Giorno, Richardson. Roseveare y Van den Noord 1995, Denis, Mc Morrow y Rger 2002).

El FMI, si bien se recurre a alguna versin de la funcin de produccin en estimaciones oficiales de carcter multi-pas, tambin recurre a diversos mtodos que en opinin de los expertos de la institucin se ajustan mejor a las condiciones particulares de cada pas.

El BCE no hace mediciones oficiales del producto potencial para fijar los valores de referencia de su poltica monetaria, mientras que el ESCB prefiere mtodos centrados en alguna versin de filtros a la Hodrick-Prescott (Bouthevillain et al 2001).

Cmo se calcula la PTF?: La practica general

Estimacin de la PTF

Y es el PIBA es la PTF (o productividad) L es el nmero de ocupadosK es el stock de capital calculado a partir de la metodologa de inventario permanente y se asume una tasa de depreciacin de que ha sido estimada con diferentes mtodos. es la participacin del empleo en la renta nacional total(1-) es la participacin del capital en la renta nacional total

Cmo se calcula la PTF?Estimacin de la PTF: Mtodo de Funcin de Produccin

El Uso de la Funcin de Produccin Contabilidad delCrecimiento. La contabilidad del crecimiento, bajo los supuestos habituales permite expresar la tasa de crecimiento del producto como la suma del crecimiento ponderado de los factores y la productividad.

PIBP = A* F (SSKt SSLt) (1)

La relacin funcional entre el nivel del producto y los factores se realiza no a partir de la disponibilidad fsica de los factores sino de los servicios que estos prestan.

pibpt = *sskt + (1 - )*sslt + at (2)

Las variables en minsculas denotan que estn expresadas en logaritmos y simboliza la primera diferencia.

El Uso de la Funcin de Produccin Contabilidad delCrecimiento.

(SSK) y (SSL) corresponden a los servicios de los factores capital y trabajo.

El parmetro A tericamente denota la contribucin del progreso tcnico.

Este parmetro tambin refleja los errores de especificacin y de medicin en las variables de inters.

Los parmetros y (1- ) representan la participacin del crecimiento de losfactores en el crecimiento del producto

Estos parmetros son estimados econometricamente. Sin embargo, hay que tener cuidado con las variables que miden la evolucin factorial, etc.). Por ello es importante ser cuidadoso con la medicin de los factores y sus servicios asociados

El Uso de la Funcin de Produccin Contabilidad delCrecimiento.

La estimacin economtrica requiere que los servicios del capital en la funcin sean ajustados a fin de reflejar la intensidad de uso de estos servicios.

Esto implica contar con algn indicador de la UCI (utilizacin del capital) que al no ser directamente observable en la prctica puede generar problemas de calidad de las estimaciones economtricas.

Tambin se requiere medir el factor trabajo de acuerdo con su nivel de utilizacin. Por ello, se utiliza la tasa natural de desempleo.

El Uso de la Funcin de Produccin Contabilidad delCrecimiento. La estimacin del parmetro de productividad en la ecuacin (2) se realiza demanera convencional, recurriendo a la formula del residuo.

Es decir, que del crecimiento observado de la produccin se restan las contribuciones al crecimiento observado de los factores (SSK) y (SSL) como se denota en la ecuacin (3).

pibpt - *sskt - (1- )*sslt = at (3)

La estimacin de la PTF a partir de la ecuacin (3) se basa en el crecimiento observado del producto y en la contribucin histrica al crecimiento lo cual refleja la participacin en el ingreso.

La variacin en la PTF se estima a partir de la siguiente funcin:

Crecim. PTF = Crecim. PIB x (Crecim. L) (1-) x (Crecim. K)

Un estudio elaborado por el DNP encontr para el caso colombiano el valor de es 58%.

Sin embargo, existen otras estimaciones en las cuales el parmetro se encuentra entre 56% y 62% (ver Jorge Ivn Rodrguez, DNP, Juan Ricardo Perilla Jimnez, DNP y Jos Daniel Reyes Pea, BID); Clavijo Sergio y Crdenas.

Cmo se calcula la PTF?Estimacin de la PTF

La estimacin de los parmetros se hace por mtodos economtricos de series de tiempo. Para los cual se establece el siguiente procedimiento:

Se trabajo utilizando las serie de capital incluyendo el solamente el 30% del stock de vivienda asociado a la produccin en el hogar.

Para la serie de trabajo se utiliz la serie de 7 ciudades que publica el DANE.

Preparacin de las series estadsticas y transformaciones logartmicas para obtener directamente las elasticidades.

Realizacin de pruebas de raz unitaria para establecer la estacionariedad de las series utilizadas de producto, capital y trabajo (pueden utilizarse las pruebas de ADF-Dickey Fuller o KPSS). Estimacin de la ecuacin de cointegracin (puede ser por mtodos de mnimos cuadrados ordinarios o a partir de la seleccin de vectores de cointegracin por el mtodo de Johansen.

Con ello se pueden obtener las elasticidades de largo plazo.

Finalmente, si se requieren las elasticidades de corto plazo, se efecta la ecuacin de Mecanismo de Correccin de Errores - MCE

Estimacin de la PTF: Procedimiento

Estimacin de la PTF Diferentes modelos

Cmo se trabajaron las series de los factores: el stock de capital

Stock de capital: Metodologa Esta variable se expresa en trminos potenciales, para ello se recurre al uso de filtros estadsticos (como el filtro de HP) con fin de encontrar la tendencia de la serie.

La simple medicin del acervo fsico no logra capturar la calidad de la inversin y por tanto subestima su aporte a la produccin.

Los servicios del capital se definen como su contribucin a la produccin medido en unidades de servicio.

La recomendacin metodolgica es convertir cada activo en Unidades de Eficiencia Standard (Standard Efficiency Units) usando un Perfil de Edad-Eficiencia (Age-Efficiency Profile) para cada uno de ellos.

Stock de capital: Metodologa

Estos servicios se definen y calculan de acuerdo a las recomendaciones del manual de la OECD (2001) para la medicin de las estadsticas del capital.

Finalmente, se construye un ndice agregado del volumen de servicios ponderando el volumen de servicios por el costo de uso (CU) de los diferentes activos.

Si bien la estimacin de los servicios del capital no requiere de los supuestos habituales sobre la funcin de depreciacin de cada activo, si se requiere establecer la forma que adopta el perfil de vida til.

La determinacin del perfil Edad-Eficiencia, se asocia con la eleccin de la forma funcional que representa de manera ms realista la forma como decae la eficiencia de los distintos activos en la produccin.

Stock de capital: Metodologa

Los supuestos ms usuales usados en la literatura de este perfil son:

En el primer caso, el perfil lineal asume que la eficiencia del activo se reduce en una cantidad igual cada periodo;

El perfil constante asume que la eficiencia es constante durante toda la vida til del activo y desaparece repentinamente al final de sta;

El perfil geomtrico, asume que la eficiencia se reduce a una tasa fija determinada y asume, por tanto, que la reduccin de la eficiencia es mayor al inicio y menor al final de la vida til del activo;

Por ltimo, el perfil hiperblico, que asume que la disminucin de la eficiencia ocurre a ritmo ms lento inicialmente y se acelera a medida que se acerca el final de la vida til del activo.

Stock de capital: Metodologa As, el perfil geomtrico asume una tasa de disminucin constante del 10%, y el perfil hiperblico se realiza a partir de la siguiente ecuacin:

Et = E0 T T(t -1) T - (t -1)

Donde E denota la eficiencia del capital, T el tiempo de vida til estimado parael activo y es un coeficiente de pendiente la velocidad de la perdida deeficiencia- que en este ejemplo es 0.5.

Asociado con cada perfil edad eficiencia de los distintos activos se encuentra elperfil edad precio que representa el precio del activo en cada momento de suvida til(4)

Perfiles Edad-Eficiencia y Edad-Precio Bajo Distintas Formas Funcionales

Grfico1

11

0.8620.8209687832

0.7240.6558891272

0.5860.5054586101

0.4480.3704096888

0.310.2515114432

0.1720.1495714069

0.0340.0654374905

Perfil Edad-Eficiencia

Perfil Edad-Precio

Indice

Perfil Lineal

Cuadro1

Cuadro 2

DocumentoAoPeriodoTipo de InversinCosto UsoMuestraFuentes informacinDepreciacinTasa de intersPrecios RelativosOtros SupuestosConclusiones

DocumentoAoPeriodoTipo de InversinCosto Uso

Ocampo et al.1985

Carrizosa19861950-1986Total5% en 1953, 8% en 1960, 15% entre 1967 y 1974, 40% en 1982 y 20% en 1983-1984.Sector empresarial no financieroBoletines estadsticos de la supersociedadesNoSupuestos dela utorNoInflacin esperada

Dailami19891981-1985TotalPara 1981-1985 14.6%, para 1995 22%Sector empresarial no financieroBoletines estadsticos de la supersociedadesConstante 5%Supuestos dela utorN.R.Incluye deducciones por inflacin y depreciacin sobre los bienes de capital. La razn deuda capital decrece 5% anual.La reforma tribuatia de 1986 incrementaria el csto de uso en 8 puntos porcentuales pasando de 14.6% en promedio para 1981-1985 a cerca de 22% para 1995

Fainboim19901950-1987Agregado Total y por tipo de inversinSi se considera el perodo 1950-1987 (12.3% - 15%) o un poco mayor (13.8%-16.4%) si se considera el perodo 1968-1987. Estos porcentajes dependen del tipo de inversin.Inversin totalInformacin del SCN; Banco de la Repblica y DANEConstante 10%Tasa de interes nominal ajustada por inflacin (La calculada en Carrizosa 1986)Precio de la maquinaria en USA como proxi del precio de los bienes de capital o usando alternativamente el deflactor implicito de la inversin correspondiente.Al cambiara la inflacin esperada por la observada ex-post el signo de la tasa de inters es contrario al esperado.CU presenta alta volatilidad ocasionada por el efecto de la devaluacin sobre los bienes importados, cambios en tributacin y tasa de inters nominal. En relacin con los componentes de la inversin por tipo de bien, la inversin en construccin es el com

Valderrama19911986-1989TotalAntes de 1986 23% para financiacin con acciones y 1.4% financiacin con deuda. Para 1989 los porcentajes eran 17.1% y 4.8% respectivamente.Sector empresarial no financieroBoletines estadsticos de la supersociedadesN.R.Tasa de interes nominal ajustada por inflacin.N.R.Incluye deducciones por inflacin.Antes de la reforma de 1986 el costo de uso era de 23% para el capital accionario y 1.4% para el endeudamiento, con la reforma para 1989 las tasas respectivas seran 17.1% y 4.8%.

Bustamante y Fainboim19911951-1987Maquinaria Y Equipo /19.4% - 9.8%

Equipo de Transporte11.50%

Inversin Fija13.60%

Vivienda15.10%

Otras Construcciones14.30%

Olivera19931980-1993Promedio del PeriodoSi se considera el perodo 1980-1991 sin efecto fiscales (27.1%), A partir de 1990 el costo de uso se reduce de niveles cercanos al 28% (promedio entre 1980-1989) a alrededor de 24.5% entre 1990-1993. Con efectos fiscales en estos mismos perodos las tasInversin privada totalSCN, DNPConstante 4%Tasa de interes nominal CDT 90 dias promedioCapital: Deflactor implicito de la serie de inversin privada. Producto: Deflactor implicito del PIB. Precios Relativos: Tasa media de aumento de los bienes de capital constante.No considera deducciones ni descuentos tributarios.Incluye aranceles, costo de fletes y seguros de importacin. Con el fin de aislar el efecto de una devaluacin real y hacer evidente los efectos de la poltica fiscal, utiliza los promedios de las gananciReduccin de aranceles desde finales de los 80 y reduccin de la tasa impositiva sobre sociedades anonimas genera una reduccin del CU, cambios en la tarifa IVA no tiene efecto significativo.

Cardenas y Olivera19951951-1993Desde 1950Alrededor de 40% en 1990N.R.DANEConstante 4%Tasa de Inters real: clculada a partir de la tasa de inters pasiva nominal ms la depreciacin del capital menos la valorizacin del capital existente. Factor tributario: Incluye efectos de la tributacin directa, IVA e impuestos y sobretasas a las imPrecios Relativos: Indice de precios de E.E. U.U. multiplicado por el indice de tasa de cambio nominal de los bienes de capital. Como indicador del precio del producto se toma el Indice de precios al productor.No incluye algunos impuestos ni los costos por seguros y fletesEl CU ha tenido tendencia creciente desde 1970 explicados por el aumento de los precios relativos del capital respecto al producto, fuertes devaluaciones durante el perodo, una mayor tasa de interes real en 1989-1993 y un mayor aumento del factor tributa

Soto y Steiner19981996Total (1996)33.70%Inversin privada totalMuestra de empresas de la superintendencia de sociedadesTomada de PomboNominal de captacin y ColocacinN.R.El analisis tiene en cuenta el tipo de inversin y fuentes de financiamiento por sectores econmicos (emisiones, deuda, utilidades retenidas)Los sectores minero, financiero y transporte son los que mayor costo presentan. Las empresas que se financian con utilidades enfrentan mayor costo de capital (48.9%)

Retencin de utilidades48.90%

Financiamiento con acciones33.90%

Financiamiento con deuda29.70%

Pombo19971970-1995Maquinaria16.00%Industria colombianaEncuesta manufacturera, Banco de La RepblicaPor tipo de activo.CDT 90 dias y FainboimIndice de precios de los bienes de inversibn calculado por el autorIncluye deducciones por depreciacin pero excluye impuestos que recaen sobre el activo. Estima tasas de depreciacin por tipo de bien.CU se ha incrementado debido a cambios en tasa real de descuento, precio de los bienes de capital, tasa de cambio real y cambios en politica arancelaria.

Edificios y Estructuras10.40%

Equipo de Transporte19.60%

Equipo de Oficina18.20%

19991990-1995Maquinaria25.60%

Edificios y Estructuras14.10%

Equipo de Transporte31.10%

Equipo de Oficina27.80%

Rhenals20051997-2003Por Sector y tipo de bien1997 39.5% 2003 25.1%Empresas No FinancierasMuestra de empresas de la superintendencia de sociedadesTomados de PomboPromedio ponderado de las tasas de colocacin ordinarias y preferenciales semanales registradas por el Banco de la Republica.N.R.Tasas de inflacin reportadas por el DANE. Usa la tasa marginal de renta corporativa y de ganancias de capital para personas jurdicas, 35%, y para la tasa de renta de personas naturales se tomo la tasa marginal promedio, 28%. Para el IVA, se tomaron paraDurante el perodo 1997-2003 la inversin fue financiada principalmente con recursos de capital (aumentos de capital y emisin de acciones) Desde 1997 el CU se ha reducido en 14.4 puntos porcentuales

Botero et al.20071990-2007Constante 10%

1/ Maquinaria importada de Estados Unidos 9.4% otra maquianria 9.8%.

2/ Corresponde a la suma del acervo de capital de las empresas y administraciones pblicas y los distintos activos de la infraestructura nucleo. Las cifras

de los agregados no concuerdan con la sumatoria por empresas y componente de infraestructura, el documento no suministra detalle de la construccin

3/ Corresponde a la suma del acervo de capital de las empresas privadas y no residencial de los hogares

4/ Londoo no suministra informacin sobre las tasas de depreciacin , pero la recosntruccin de las series usadas por l permite inferir estas tasas para

diferentes perodos: En la agricultura 1936-1947 (5%/), 1948-1967 (3.5%) y 1968-1986 (1%).

5/ 1936-1955 (5%), 1956-1972 (7%) y 1973-1986 (9%)

6/ 1936-1961(3.6%), 1962-1974 (5%), y 1975-1986 (6%).

7/ En este caso la tasa de depreciacin corresponde al valor mnimo y mximo reportado por el autor para el activo en distintos sectores segn clasificacin

CIIU a tres digitos, el valor en parentesis es el valor de la depreciacin promedio del activo para el total de la industria manufacturera

N.D. No disponible

N.R. No reportado

Fuente: Docuemntos de los Autores referencaidos, el resumen es propio.

Cuadro 3

AOSObservadoMAXMINPromDESVESTCRITERIOS

1950-20104.264.264.264.260.00

2006-20104.584.674.454.540.06Se excluye SSK-MIN-iact, MAX est dado por SSK-MAX-iact(=0.5 Part. Orig.), MIN est dado por SSK-MIN-EBE(=0.4 Precios encadenados)

2001-20053.633.182.753.010.11Se excluye SSK-MIN-iact, MAX est dado por SSK-MIN-EBE(=0.4 Precios Encadenados), MIN est dado por SSK-MAX-iact(=0.5 Part. Orig.)

1996-20000.962.542.142.370.12

1991-19954.564.283.773.960.14

1986-19904.593.483.293.380.06

1981-19852.254.063.813.970.07

1950-20104.264.264.264.260.00

2006-20104.584.674.474.550.06Se excluye SSK-MIN-EBE, MAX est dado por SSK-MAX-iact(=0.5 Part. Orig.), MIN est dado por Acervo(=0.4 Precios encadenados)

2001-20053.633.112.752.990.11Se excluye SSK-MIN-EBE, MAX est dado por Acervo(=0.4 Precios Encadenados), MIN est dado SSK-MAX-iact(=0.5 Part. Orig.)

1996-20000.962.542.262.420.08

1991-19954.564.193.773.920.11

1986-19904.593.483.293.390.05

1981-19852.254.063.813.970.07

1950-20104.264.264.264.260.00

2006-20104.584.604.474.530.04Se excluye SSK-MAX-iact, MAX est dado por SSK-MAX-EBE(=0.5 Part. Orig.), MIN est dado por Acervo(=0.4 Precios encadenados)

2001-20053.633.112.873.010.07Se excluye SSK-MAX-iact, MAX est dado por Acervo(=0.4 Precios Encadenados), MIN est dado por SSK-MAX-EBE(=0.5 Part. Orig.)

1996-20000.962.472.262.400.08

1991-19954.564.193.773.930.14

1986-19904.593.483.293.390.07

1981-19852.254.063.964.000.03

Cuadro 3

1111111111111111111111

PIB Potencial SSK-MIN-iact =0.4

PIB Observado

PIB Potencial SSK-MIN-iact =0.5

PIB OBS

Graf 1-4

111111111111111111111

PIB Potencial SSK-MIN-iact Precios encadenados =0.5

PIB Observado

PIB Potencial SSK-MIN-iact Precios encadenados =0.5

Crecimiento Anual

Graf 5 y 6

11111111111111111111

Graf 7-12.

Volver

Volver

Graf 7-12.

11

0.60.8389016149

0.360.6906679703

0.2160.5538691839

0.12960.4272093233

0.077760.3095127446

0.0466560.1997117648

0.02799360.0968355359

Perfil Edad-Eficiencia

Perfil Edad-Precio

Indice

Perfil Geomtrico

Graf 13-16

11

0.8620.8209687832

0.7240.6558891272

0.5860.5054586101

0.4480.3704096888

0.310.2515114432

0.1720.1495714069

0.0340.0654374905

Perfil Edad-Eficiencia

Perfil Edad-Precio

Indice

Perfil Lineal

Graf. 17-20

11

10.8952781864

10.7853202821

10.6698644825

10.548635893

10.4213458741

10.2876913541

10.1473541082

Perfil Edad-Eficiencia

Perfil Edad-Precio

Indice

Perfil Constante

Graf 21-22

11

0.93333333330.8295550889

0.85714285710.6652842597

0.76923076920.5095956918

0.66666666670.3655024679

0.54545454550.2368143172

0.40.1284123543

0.22222222220.0466550076

Perfil Edad-Eficiencia

Perfil Edad-Precio

Indice

Perfil Hiperblico

Graf 23-28

GeometricoLinearhiperbolicaConstante

11.001.001.001.00

20.590.770.771.00

30.350.570.551.00

40.210.390.351.00

50.120.250.191.00

60.060.130.091.00

70.030.050.031.00

80.010.010.010.00

Graf 23-28

11

Perfl Geomtrico

Perfl Lineal

Perfl Hiperbolico

Perfl Constante

Graf 29-31

PROPORCIONALIDAD

depmayordepmenordepnomrmalprecios encadenadosPIB

192514042.087067440424734.815525367719479.347930057329209.703024439512168.53641043021.60079628912.655192521.51%

192615306.784717942526534.14959876621015.908623690231585.436495945213330.35646971751.5765451338-0.01514943250.33%2.579192624.06%2.5197116018

192717147.252224492528970.819105082223165.054829344234639.38545697914531.08916256951.59417195570.01118066440.33%2.549192726.63%2.9563883221

192819460.507561779332024.672879923325877.798406357738504.83648786715598.40711177121.6590026290.04066730250.33%2.572192828.34%3.8582739368

192920880.155931361234354.996289868927799.397443346741539.381719419716159.86082463261.72027455840.03693299110.33%2.619192923.04%6.4012738116

193020736.286285679635137.802099206728152.078219640542595.47934629616020.88713333021.7572109450.0214712160.33%2.698193015.66%-18.208592644

193120256.283490486235444.545212017828063.470295474143059.977221626915765.1755413341.78009247170.01302150250.33%2.775193113.24%-8.2954482737

193219922.351203276335764.252749334828029.410760565343561.804872048916810.25769992741.6673992309-0.06330752050.33%2.659193214.79%2.2313386525

193320049.279298275736448.802929943328395.078894714344625.132377082517755.27880078311.599247143-0.04087328740.33%2.565193313.17%2.3418763122

193420252.653087671337168.243618049428815.209441952145583.645229713318872.62727885361.5268255456-0.04528480650.33%2.456193412.20%1.93869357193.801.5268255456

193520733.647286741838164.048810313429517.968420436947050.238989681519334.01993397731.5267372497-0.00005782970.33%2.458193513.81%5.64747431360.13909896053.851.5267372497

193621473.449428051439415.978196432130481.654382434548801.210446397520356.86630196231.4973647678-0.01923872750.33%2.403193614.27%2.69802465980.15693026634.001.4973647678

193722667.002707807141150.812605433631921.873846617551172.708683173220673.72631813161.54407934760.03119786230.33%2.452193716.02%10.29242722290.89053415644.531.5440793476

193823830.179077604242925.070851900533379.933801231153599.0655652622018.99164993791.5159610545-0.01821039390.33%2.386193815.70%2.41282890410.74598965314.281.5159610545

193925406.33955059145173.00398289435290.392795725456838.126065915723369.81592939641.5100843285-0.00387656790.33%2.339193916.21%2.64203149660.37006542163.821.5100843285

194026572.302416630547089.164323305236840.139617742259732.141843810223875.68016573681.54299853920.02179627320.33%2.373194015.66%7.23568371092.91449305713.531.5429985392

194127511.861697300548781.214342202638159.950143846162330.050433933924275.92439668741.57192572860.01874738610.33%2.401194114.05%8.3830798544.58234586993.291.5719257286

194228533.620605526250567.033099506239566.698607931665570.484929176124325.95492555621.62652190750.03473203470.33%2.444194212.34%59.865511375210.34576314213.781.6265219075

194329000.562917804651732.744966406340372.209380934267655.201618887124426.01598329391.65283644330.01617840840.33%2.492194313.11%31.874444950213.29902000594.391.6528364433

194429643.391686344153018.681080978741318.389540216969735.845330689926077.02343596531.5844749168-0.04136012770.33%2.399194413.31%1.969250954813.30207574424.361.5844749168

194531272.754392014855294.257336661843257.5487525272981.651131705327299.99191942571.58452606430.00003228040.33%2.389194516.30%3.475634938313.08489180674.151.5845260643

194633624.806126771558411.678009778846002.108608905577066.750239240229923.81521121331.5373076021-0.02979973840.33%2.294194617.82%1.85362621513.00045196223.791.5373076021

194737100.993200095662889.785119695950026.76966173882782.053438761931085.63527050061.60932112940.04684392840.33%2.356194721.52%5.542694450712.5254786853.711.6093211294

194839734.05295817866848.496355303153411.606304761188256.227134715731969.50794718331.67070467250.03814250740.33%2.415194819.78%6.95751944712.97994773934.171.6707046725

194941286.638162891669820.394384635955754.471764730892301.322358555534760.09966853361.6039790535-0.0399386080.33%2.282194913.34%1.527795391312.86852412873.841.6039790535

195045043.857438094674990.312175403960277.390562172396923.729291495735143.6670565281.71517077220.06932242570.33%2.329195014.61%13.237372218513.46869297953.911.7151707722

195148269.959079888179952.242059478964470.7797081929100898.03780263636238.97578007781.77904530470.03724091710.01807703682.331195115.06%4.833413104213.11372630453.801.7790453047

195251540.745002807985248.55165056268877.2742116888105304.85366231538524.81665923791.78786767040.0049590450.01807703682.264195215.17%2.40512697127.36768786413.371.7878676704

195356924.553016282392874.115271920375507.4425279481111541.45942121140867.12168404191.84763299730.03342827210.01807703682.255195320.23%3.32770642364.51301401153.151.8476329973

195463041.8379536429101778.65659346283199.5433297905119628.56266063443693.43927934421.90416558420.03059730310.01807703682.240195421.85%3.15883521664.63197243763.301.9041655842

195568975.9322105959110994.25346421590984.2584302729128162.87669601245401.24043021762.00400380180.05243147890.01807703682.288195522.79%5.83174122754.86758306663.472.0040038018

195673595.0556447995119281.64938892997647.2630290945136172.3715006747242.54578985932.06693482320.03140264570.01807703682.301195620.40%5.03101781215.18532222633.942.0669348232

195775084.9066699019124518.81399372101166.334028007142714.14899476248296.46342359392.09469445290.01343033630.01807703682.285195714.00%6.27499625035.25855240623.912.0946944529

195876536.8540887527129280.76573907104303.450219024148559.20014655949483.88526609662.10782661180.00626924790.01807703682.255195812.63%5.13744208095.07654466963.792.1078266118

195978752.2975471897134570.07096649108030.016827423155543.75850267653059.30981059832.0360237857-0.03406486360.01807703682.133195912.47%1.72531198685.09629632923.902.0360237857

196082476.7328014181141293.220348607113212.451325133162679.28797614655323.85700771472.04635861360.00507598580.01807703682.105196015.03%3.52164699574.12472380693.642.0463586136

196186622.9512566639148683.823492104118977.941718156170658.43325786758139.4081345682.04642505890.00003247-0.93%2.067196115.47%3.03908035753.94529053223.502.0464250589

196290375.5365895448155906.66448715124483.063221329178598.69587720661285.84872508862.0311877181-0.0074458338-0.93%2.015196214.43%2.66657671743.97143550683.552.0311877181

196393081.5878245421162093.497789213128922.495243299185273.91172448763300.13534447832.03668593350.0027068967-0.93%1.988196312.66%3.85121031564.0237858963.612.0366859335

196496920.1095453684169410.851686715134475.582055192192704.41858564167203.81754924862.001011058-0.0175161398-0.93%1.923196413.69%2.21986838363.92988921273.482.001011058

196598104.6785200436174250.485387214137477.389290575199672.30890919569623.1626371771.9745927086-0.0132025005-0.93%1.86819659.81%2.72445921243.61916101123.211.9745927086

1966100707.909380085180282.306291858141726.069858775208106.49012269473269.14376000141.9343213607-0.0203947617-0.93%1.805196611.14%2.12682355933.32874158592.921.9343213607

1967104129.065224516187111.262161618146770.632540294219190.99647331776298.72332976731.9236315647-0.0055263806-0.93%1.771196711.74%2.83994408972.98523636992.751.9236315647

1968109066.561731444195398.427528047153285.814323029231930.7788359180825.61661924061.8965004009-0.0141041373-0.93%1.725196812.85%2.1660607332.68809823512.571.8965004009

1969114943.756650103204753.586233615160823.979286027246358.03472245385758.0138616871.8753230403-0.0111665469-0.93%1.688196913.51%2.21426175422.73699321182.651.8753230403

1970122100.494458643215622.975924206169792.095680633261544.77424211591081.69724137041.8641736026-0.0059453424-0.93%1.662197014.36%2.31330246352.61615875862.531.8641736026

1971129334.878692627226994.145202583179106.71642647276685.2941422696510.82942109661.8558198857-0.0044811904-0.48%1.642197114.42%2.41922090552.55417281342.471.8558198857

1972135549.860134513237752.783707339187645.196278521291113.291428738103912.3873297111.8058019944-0.0269519104-0.48%1.588197213.33%1.73800783772.46131592552.351.8058019944

1973142581.252993714249640.45643021197171.022716724307899.092633271110898.370332541.777943374-0.0154272841-0.48%1.550197313.09%1.94762868632.27095776252.221.777943374

1974150666.388359027262813.846819637207861.676171526326243.211179528117270.3214182661.7725002682-0.0030614618-0.48%1.536197413.74%2.39110843832.2880817682.231.7725002682

1975157351.276312273274913.703705655217327.704261441342816.903063689119994.8103586941.81114252870.0218009899-0.48%1.562197513.15%5.65817434552.58145328132.341.8111425287

1976165235.80865435288464.594829379228115.996739056360539.471270465125668.6074508791.81521862430.0022505659-0.48%1.560197613.80%2.91943673162.66071459852.411.8152186243

1977172352.019403637301758.590329406238429.924577949378367.569129388130894.5433473771.82154212450.0034836025-0.48%1.557197713.11%3.15154771552.69187496112.441.8215421245

1978180836.779189551316611.902263628250174.097498896396877.109348033141981.181372091.7620229321-0.0326751666-0.48%1.498197813.06%1.54227179992.62949606782.331.7620229321

1979189287.635585978331881.966373152262125.581859259414879.725319785149618.5180583291.7519594851-0.0057113031-0.48%1.484197913.22%2.45677810272.65374770262.361.7519594851

1980199784.013200293349708.136443366276394.983416267436214.318164835155733.9560518161.77478945780.0130311077-0.48%1.502198014.69%3.59392503952.78180996022.451.7747894578

1981210835.506008878368638.211384621291505.816046233459083.005460212159279.8200554991.83014907940.03119221910.98%1.548198115.26%6.70229657593.21011752732.651.8301490794

1982221695.395253006387851.462322943306656.413631089482266.219596713160790.4629774581.90718036350.0420901690.98%1.611198215.55%16.39761882944.67607862653.091.9071803635

1983231903.449984065406856.860408766321367.044937076505425.244672367163321.2341784831.96769909650.03173204490.98%1.656198315.09%9.58923814655.44023957253.541.9676990965

1984241785.531218342425737.355434923335800.638164518529085.787158708168793.6122144071.98941555760.01103647460.98%1.669198414.80%4.41650929865.64277965853.801.9894155576

1985249546.489535289442637.349942372348135.097396205552750.511008346174038.2089940582.00033716390.00548985670.98%1.670198513.39%4.30852205385.50781442933.732.0003371639

1986259388.763957632461347.170537413362309.42438138578239.095104922184174.3267959151.9672091691-0.01656120550.98%1.636198613.63%2.33946380255.44981713643.621.9672091691

1987269060.838783355479934.832883167376312.621384399600147.39832046194062.5214358731.9391308461-0.01427317620.98%1.605198712.86%2.39440671655.37410303653.501.9391308461

1988281118.797091319501320.800666512392951.435400356626331.534408248201949.5585109761.94579001950.00343410220.98%1.606198814.05%3.45723126875.56559898343.961.9457900195

1989290302.195788135520409.811532743407059.233191414648432.712312875208844.3105294981.94910377090.00170303650.98%1.604198912.75%3.73492537595.69341371074.181.9491037709

1990303882.73436264544045.874957967425603.041210746667178.702145129217787.0204230061.95421674070.00262324140.98%1.585199012.28%2.86676115525.62069732234.081.9542167407

1991317295.55055212567268.663860093443764.460793263685388.941168341222952.7576858571.9903968240.01851385390.02258202771.586199111.30%4.76231269955.42669893473.961.990396824

1992335917.262009856595421.27651637466933.291959141708068.338095377232658.4604121322.00694739890.00831521370.02258202771.577199212.85%2.95285983394.08222303513.532.0069473989

1993365636.575478195635224.242704292501581.189851882740851.420624122245943.6381807982.03941518290.01617769560.02258202771.585199316.29%2.85360797093.40866001753.212.0394151829

1994398635.544345534680524.594971636540982.532785557778685.751903844258603.2088096972.09194052650.02575510080.02258202771.611199417.53%3.40650667873.30765975563.142.0919405265

1995429047.121158944725238.62959056579022.921707053816637.529611288272056.8793603042.12831567820.01738823420.02258202771.632199517.47%3.35832583493.21264013373.082.1283156782

1996456511.374144333768125.990017197614697.98960054852860.994472895277649.9735343652.21393138190.0402269760.02258202771.690199616.92%8.22999550333.80169330373.442.2139313819

1997481315.361468658808975.321240011647973.697372957886889.040350894287174.1830242852.25637865680.01917280510.02258202771.723199716.67%4.86102674434.04835530653.702.2563786568

1998500749.721813101845262.897728016676298.142590598915781.305077638288810.4558293262.34166779260.03779912360.02258202771.786199815.47%27.15698800886.41833098054.092.3416677926

1999500329.483688611861873.355496369684768.003921855924874.586361222276668.8202408642.47504580870.0569585560.02258202771.882199910.61%-2.52343309575.79249513345.102.4750458087

2000502345.01433547879420.496712586694585.933873952933752.1939612942847612.4391891231-0.01448728160.02258202771.862200011.67%3.99102027365.90492104525.332.4391891231

2001508873.640234686900526.238278761708275.561466523946090.6790068332895392.44621816570.00288171280.00630551.875200112.60%7.50694638066.17938441335.512.4462181657

2002517897.052761884924200.087820245724541.854198254961869.4767092162967892.4412692323-0.00202309560.00630551.874200212.55%5.01125734526.38522416445.912.4412692323

2003532127.853594861953302.291650129746167.290514185982769.0034196433084182.4193376862-0.00898366550.00630551.863200313.80%3.52284098946.45214746636.262.4193376862

2004552225.498082757988955.264027739774094.8789340081009516.194391633248662.3828128488-0.01509703980.00630551.839200414.76%2.76674426726.38817122516.092.3828128488

2005580999.3428808951034325.76689311811337.6136253991045346.487400473401562.38519271640.00099876390.00630551.845200516.55%3.51719506016.40405814776.182.3851927164

2006620264.8571519061091042.65442736859551.6944904041091727.762964523629382.3683155098-0.00707582510.00630551.841200618.64%2.78256042485.85931463985.202.3683155098

2007667415.0018379761157928.11023464917081.5087072821147080.520847893879832.3637157007-0.00194222820.00630551.850200720.33%2.9466711765.6678790834.742.3637157007

2008718781.1265816841232075.49284038980690.0552453141208230.829186424017442.44108202050.03273080590.00630551.923200821.48%6.05512954583.55769323674.502.4410820205

2009764808.7401514261303636.567812271040536.341998831265390.112205924075772.55298101220.04583991470.00630552.023200921.27%14.64980306255.27501685254.132.5529810122

2010812281.2433133691377991.345026051102427.013609161324408.709481264251342.59312831630.01572565710.00630552.069201021.49%4.98903826035.37481865124.232.5931283163

0.00601150380.4834222618

Graf 29-31

0.06487936390.01984952510.0198495251

0.06573092310.02011005550.0201100555

0.07051297980.02157310240.0215731024

0.0969966630.02967565610.0296756561

0.09888677770.03025392750.0302539275

0.1012853010.0309877440.030987744

0.09499283390.02906259440.0290625944

0.05817340560.01779786980.0177978698

0.04983440110.0152465920.015246592

0.04008675690.01226434780.0122643478

0.05888839880.01801661850.0180166185

0.05993366310.0183364120.018336412

0.06432483710.01967987030.0196798703

0.05415917030.01656973410.0165697341

0.06116316820.01871257310.0187125731

0.03865118630.01659463180.0165946318

0.04405320180.01891395150.0189139515

0.03802583970.01632614330.0163261433

0.04393284740.01886227810.0188622781

0.04530210040.01945015780.0194501578

0.05541210290.02379082070.0237908207

0.05917286890.02540548070.0254054807

0.05214458990.02238793550.0223879355

0.04928178040.02115880710.0211588071

0.05182996140.02225285180.0222528518

0.04889807160.02099406430.0209940643

0.04875042130.02093067170.0209306717

0.04770697840.02048267630.0204826763

0.05090385640.02185523480.0218552348

0.05209465490.02236649630.0223664963

0.05837779240.02506411990.0250641199

0.06114710560.02625310630.0262531063

0.06022445080.02585697050.0258569705

0.05985708590.02569924480.0256992448

0.05605987490.02406893730.0240689373

0.04419796410.01897610420.0189761042

0.0472208060.02027394140.0202739414

0.05148634540.02210532260.0221053226

0.05281970570.02267779210.0226777921

0.05414371380.02324624620.0232462462

0.03425459870.02313491730.0231349173

0.02880678510.01945556560.0194555656

0.03619377430.02444460040.0244446004

0.04727348420.03192762990.0319276299

0.05295734390.03576640280.0357664028

0.05656092850.03820019660.0382001966

0.05582851070.03770553530.0377055353

0.05494402010.03710816690.0371081669

0.05398145680.03645806960.0364580696

0.03586543180.0242228440.024222844

0.03626246040.02333365060.0233336506

0.03818460280.02469210030.0246921003

0.03622061680.0234118110.023411811

0.04255897360.02769242060.0276924206

0.0483432920.03125631320.0312563132

0.04244229120.04244229120.0424422912

0.04858956630.04858956630.0485895663

0.05803862540.05803862540.0580386254

2008pr2008pr0.0660196543

2009pr2009pr0.0556999046

2010pr2010pr0.0629798246

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Base Part. Original

Base Tasas de Crec.

Precios Encadenados

PART(%PIB)

FBKF M&E (%PIB)

0.04047301350.08317279280.0831727928

0.04115775160.08457994230.0845799423

0.04090796170.08406661960.0840666196

0.05014928870.10305771770.1030577177

0.06118615950.12573869170.1257386917

0.06793809050.13961403520.1396140352

0.06471282360.13298605180.1329860518

0.05933261340.12192962010.1219296201

0.05017285140.10310613960.1031061396

0.05379922350.11055840140.1105584014

0.05113002410.10507314720.1050731472

0.05187200110.10659792360.1065979236

0.05095001820.10470323160.1047032316

0.04418456980.09080010980.0908001098

0.04371137250.08982768060.0898276806

0.04062948040.08366255870.0836625587

0.0463130660.09536596480.0953659648

0.06018137490.12392301740.1239230174

0.06371142410.13119194980.1311919498

0.06618472450.13628486860.1362848686

0.06151299530.12666503550.1266650355

0.05878615820.12105004450.1210500445

0.05444496070.11211082870.1121108287

0.05713972830.11765978360.1176597836

0.06058447630.12475306720.1247530672

0.05635040530.11603444210.1160344421

0.05632826810.1159888580.115988858

0.05513163430.11352479890.1135247989

0.04886770210.10062636670.1006263667

0.04708197470.09694927020.0969492702

0.05598889240.11529002940.1152900294

0.05954780780.12261840210.1226184021

0.06179214350.1272398460.127239846

0.06078203780.12515987780.1251598778

0.06265102530.12900842010.1290084201

0.06499240080.13382968450.1338296845

0.06452271780.13286253250.1328625325

0.04934031780.10159955760.1015995576

0.05797377790.11937722420.1193772242

0.04853432580.09993989180.0999398918

0.05809405910.08505951770.0850595177

0.05634473210.08249820750.0824982075

0.05986742340.08765602280.0876560228

0.06725308230.09846987520.0984698752

0.07271542850.1064676730.106467673

0.07790335970.11406368080.1140636808

0.07609212070.11141172080.1114117208

0.07451486030.10910234520.1091023452

0.06971947260.10208108730.1020810873

0.04732197310.0692873640.069287364

0.05944065330.06955700420.0695570042

0.05967305150.07017458850.0701745885

0.0560783850.06591838170.0659183817

0.06209708480.07348062790.0734806279

0.06577427180.0773373790.077337379

0.08673667380.08673667380.0867366738

0.09370195460.09370195460.0937019546

0.09692950460.09692950460.0969295046

0.10211477960.10211477960.1021147796

0.11068092650.11068092650.1106809265

0.10218400080.10218400080.1021844815

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Base Part. Original

Base Tasas de Crec.

Precios Encadenados

PART(%PIB)

FBKF Constr. & Edif (%PIB)

0.04263112030.06226669020.071943289

0.03108288330.04282384630.0524547523

0.03245559560.04810766670.0547713097

0.03253907850.05491219350.0549121935

0.03725708150.06287418590.0628741859

0.03216150840.0542750150.054275015

0.03316165040.05596283140.0559628314

0.03397370480.05733323560.0573332356

0.03512147950.05927019350.0592701935

0.03711519640.06263474390.0626347439

0.03243900120.05474330540.0547433054

0.03400383540.05738408320.0573840832

0.03534606270.05964919490.0596491949

0.03345403140.05645624680.0564562468

0.03271410670.0552075670.055207567

0.03280990080.05393866560.0539386656

0.03021911380.04967947580.0496794758

0.03049055080.05012571150.0501257115

0.03036233240.04991492360.0499149236

0.02878873180.04732796320.0473279632

0.02940851260.04834686750.0483468675

0.02701143250.04440612710.0444061271

0.0225960840.03714740320.0371474032

0.02783134530.04575404330.0457540433

0.02604379780.04281535960.0428153596

0.02191020670.03601983790.0360198379

0.02232813140.03670689580.0367068958

0.02399379050.03944519830.0394451983

0.02567724030.04221274810.0422127481

0.02182060070.03587252790.0358725279

0.02051867280.03373219060.0337321906

0.02134690630.0350937860.035093786

0.0218961160.03599667310.0359966731

0.02579709090.04240977950.0424097795

0.02514148340.04133197690.0413319769

0.02527056770.04154418830.0415441883

0.02562156130.04212121310.0421212131

0.02632470650.04327716650.0432771665

0.02450164350.04028009590.0402800959

0.02369275020.03895029540.0389502954

0.04518769470.03466559750.0346655975

0.0506137490.0388281780.038828178

0.05037200560.03864272540.0386427254

0.05546331130.04254850450.0425485045

0.05753826930.04414030190.0441403019

0.04865611630.03732638630.0373263863

0.04661882580.03576348530.0357634853

0.03771531330.02893318380.0289331838

0.03575821560.02743180240.0274318024

0.02405197990.01845140050.0184514005

0.01320900410.01631750560.0163175056

0.01439155590.01786634750.0178663475

0.02115524050.02625157750.0262515775

0.02191141450.02737149130.0273714913

0.02618690870.03250454080.0325045408

0.03111807520.03111807520.0311180752

0.03125602720.03125602720.0312560272

0.02961469960.02961469960.0296146996

0.03238629580.03238629580.0323862958

0.02889515360.02889515360.0288951536

0.02667688540.02667688540.0266770109

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Base Part. Original

Base Tasas de Crec.

Precios Encadenados

PART(%PIB)

FBKF Vivienda (%PIB)

0.02506671750.0122175070.012217507

0.03070656120.01496636430.0149663643

0.02724506270.01327923150.0132792315

0.04488027630.02187462680.0218746268

0.04706417040.02293905580.0229390558

0.04663234280.02272858320.0227285832

0.03306036250.01611360610.0161136061

0.0107598260.00524433440.0052443344

0.01482896170.00722762940.0072276294

0.01982242780.00966144260.0096614426

0.0297188130.01448493630.0144849363

0.03030427730.01477029140.0147702914

0.01884420640.00918465790.0091846579

0.02073537640.01010641330.0101064133

0.02373187890.01156690730.0115669073

0.01611565150.00885526280.0088552628

0.01788890690.00982963490.0098296349

0.01522586460.00836634070.0083663407

0.01671852270.00918652970.0091865297

0.01844758450.01013661830.0101366183

0.0212555610.01167955130.0116795513

0.02097444950.01152508550.0115250855

0.02137891130.011747330.01174733

0.01912670470.01050978270.0105097827

0.01962062080.01078118080.0107811808

0.02071299510.01138142090.0113814209

0.02761258940.01517262480.0151726248

0.02293700470.01260347450.0126034745

0.02574817190.01414816070.0141481607

0.02812802530.01545584770.0154558477

0.027826120.01528995610.0152899561

0.02721781690.01495570440.0149557044

0.0290879750.01598332290.0159833229

0.02616344440.01437634560.0143763456

0.02535908260.01393436310.0139343631

0.02088464010.01147573680.0114757368

0.02083209360.01144686350.0114468635

0.02413441520.01326143020.0132614302

0.02610624080.01434491320.0143449132

0.02124192280.01167205730.0116720573

0.01545069950.01122267580.0112226758

0.01291216250.00937879960.0093787996

0.01676363460.01217633130.0121763313

0.03216045890.02335987470.0233598747

0.03248822770.02359795080.0235979508

0.02499893840.01815807630.0181580763

0.02026574770.01472010480.0147201048

0.02218128830.01611146520.0161114652

0.0177396910.01288529370.0128852937

0.00953770610.006927750.00692775

0.00843145860.00597008510.0059700851

0.01436314920.01022049220.0102204922

0.01519723010.01080926070.0108092607

0.01685455620.01206811610.0120681161

0.0175101120.01245784250.0124578425

0.01458448480.01458448480.0145844848

0.02240603080.02240603080.0224060308

0.02678983360.02678983360.0267898336

0.02562577160.02562577160.0256257716

0.02137510210.02137510210.0213751021

0.02463386890.02463386890.0246339847

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Base Part. Original

Base Tasas de Crec.

Precios Encadenados

PART(%PIB)

FBKF E. Trans (%PIB)

0.01565138060.02616549430.0261654943

0.01304583210.02180961880.0218096188

0.01304185820.02180297530.0218029753

0.01029799190.01721586460.0172158646

0.01132387490.0189309040.018930904

0.0120836210.0202010240.020201024

0.01127334050.01884642220.0188464222

0.01172087860.01959460260.0195946026

0.01147346790.0191809890.019180989

0.01095283830.01831061650.0183106165

0.01056505530.01766233290.0176623329

0.01255545220.02098981690.0209898169

0.01019312680.01704055420.0170405542

0.00749890390.01253643570.0125364357

0.0082915610.01386157550.0138615755

0.00268452380.01591340330.0159134033

0.00312095730.01850050750.0185005075

0.00399475130.02368021070.0236802107

0.00415214520.02461321480.0246132148

0.00519129740.03077313380.0307731338

0.00542446080.0321552870.032155287

0.00526970.03123789110.0312378911

0.00532192360.0315474640.031547464

0.00538998610.03195092650.0319509265

0.00535222650.03172709430.0317270943

0.00549236250.0325577970.032557797

0.00535045480.03171659180.0317165918

0.00528166620.03130882490.0313088249

0.00510916170.03028624690.0302862469

0.00484836250.02874027340.0287402734

0.00470362230.02788227840.0278822784

0.00469003380.02780172760.0278017276

0.00441385610.02616459320.0261645932

0.00412782470.02446904750.0244690475

0.00391327620.02319723990.0231972399

0.00379535060.02249819710.0224981971

0.00367653560.02179388190.0217938819

0.00359299350.02129865840.0212986584

0.00360814380.0213884670.021388467

0.00359397960.02130450370.0213045037

0.01495530770.02042970410.0204297041

0.01489464130.02034683070.0203468307

0.01572069470.02147526130.0214752613

0.01625864650.02221013070.0222101307

0.01718369350.02347379140.0234737914

0.01525157910.02083442580.0208344258

0.01701037130.02323702460.0232370246

0.01510732440.02063736650.0206373665

0.01329557650.01816242770.0181624277

0.0133604010.01825098110.0182509811

0.01259724240.01685989690.0168598969

0.01373812280.0184778380.018477838

0.01798467320.02417885460.0241788546

0.01652387410.02236328810.0223632881

0.01592340650.02141369030.0214136903

0.02177530310.02177530310.0217753031

0.02166485740.02166485740.0216648574

0.02158084250.02158084250.0215808425

0.02100342510.02100342510.0210034251

0.02494743320.02494743320.0249474332

0.02511302320.02511302320.0251131413

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Base Part. Original

Base Tasas de Crec.

Precios Encadenados

PART(%PIB)

FBKF Otros Bienes (%PIB)

0.18870159580.20367200940.2133486082

0.18172395120.18428982710.1939207331

0.1841634580.18882959550.1954932384

0.23486329840.22673605870.2267360587

0.2557180640.26073676490.2607367649

0.26010086370.26780640150.2678064015

0.23720101090.25297150580.2529715058

0.17396042840.22189966250.2218996625

0.16143116160.20403154350.2040315435

0.16177644310.21342955230.2134295523

0.18274129240.20998034020.2099803402

0.18866922910.2180785270.218078527

0.17965825110.21025750890.2102575089

0.16003205180.18646893970.1864689397

0.16961208740.18917630350.1891763035

0.13089074290.17896452210.1789645221

0.14159524580.19228953460.1922895346

0.14791838130.22242142360.2224214236

0.15887727170.2337688960.233768896

0.16391443860.24397274160.2439727416

0.17301363270.24263756190.2426375619

0.17121460910.23362462880.2336246288

0.15588646940.21494096150.2149409615

0.15876954470.22703334330.2270333433

0.16343108280.23232955380.2323295538

0.15336404120.21698756220.2169875622

0.16036986490.22051564210.2205156421

0.15505107420.21736497290.2173649729

0.15630613250.20912875730.2091287573

0.15397361810.19938441540.1993844154

0.16741509990.21725857450.2172585745

0.17394967050.22672272650.2267227265

0.17741454140.23124140570.2312414057

0.17672748380.23211429510.2321142951

0.17312474230.23154093730.2315409373

0.15914092320.22832391080.2283239108

0.16187371440.22849843250.2284984325

0.15487877840.20154213530.2015421353

0.16500951170.21806849240.2180684924

0.15120669210.19511299440.1951129944

0.16794235950.17451241250.1745124125

0.163572070.17050758150.1705075815

0.17891753270.18439494120.1843949412

0.21840898330.2185160150.218516015

0.2328829630.233446120.23344612

0.22337092210.22858276590.2285827659

0.21581557620.22283787080.2228378708

0.20446280640.21189252750.2118925275

0.19049441260.19701868070.1970186807

0.13013749190.13714033960.1371403396

0.12994081890.13203814240.1320381424

0.14035048220.14143136660.1414313666

0.14663614550.15056988550.1505698855

0.15994590320.1629759440.162975944

0.1737379910.17496976590.1749697659

0.1966568280.1966568280.196656828

0.21761843620.21761843620.2176184362

0.23295350570.23295350570.2329535057

0.24714992630.24714992630.2471499263

0.241598520.241598520.24159852

0.24158730660.24158730660.2415884431

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Base Part. Original

Base Tasas de Crec.

Precios Encadenados

PART(%PIB)

FBKF Total (%PIB)

0.2192325263

0.2497497915

0.2770084162

0.3051318603

0.2548331613

0.1673490632

0.1405148096

0.1551917989

0.1438634941

0.1379086892

0.1538815411

0.1610322228

0.1838666308

0.1766978036

0.190152236

0.1787427241

0.1682390657

0.1476005484

0.1559171598

0.1591131955

0.189268988

0.2043470184

0.2370171674

0.2256477134

0.1581480889

0.1887015958

0.1817239512

0.184163458

0.2348632984

0.255718064

0.2601008637

0.2372010109

0.1739604284

0.1614311616

0.1617764431

0.1827412924

0.1886692291

0.1796582511

0.1600320518

0.1696120874

0.1308907429

0.1415952458

0.1479183813

0.1588772717

0.1639144386

0.1730136327

0.1712146091

0.1558864694

0.1587695447

0.1634310828

0.1533640412

0.1603698649

0.1550510742

0.1563061325

0.1539736181

0.1674150999

0.1739496705

0.1774145414

0.1767274838

0.1731247423

0.1591409232

0.1618737144

0.1548787784

0.1650095117

0.1512066921

0.1679423595

0.16357207

0.1789175327

0.2184089833

0.232882963

0.2233709221

0.2158155762

0.2044628064

0.1904944126

0.1301374919

0.1299408189

0.1403504822

0.1466361455

0.1599459032

0.173737991

0.196656828

0.2176184362

0.2329535057

0.2471499263

0.24159852

0.2415873066

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor. Las bandas ilustran el efecto que sobre el acervo tendria la adopcin de supuestos de depreciacin inferiores y superiores a los establecidos en el cuadro 2. asi, El limite inferior asume que la depreciacin es el doble para cada activo y el limite superior asume que la depreciacin es slo la mitad de la reportada en el cuadro para cada activo.

Empalme con precios encadenados

Empalme con base en proporcin original

Base Part. Original

Acervo

PART(%PIB)

Acervo Miles de Millones COP 2005=100

Inversin (% PIB ) y Acervo Total

M&EE. Transp.Constr. Y EdifViviendaTOTAL

AoKSSKV1SSKV2IKSSKV1SSKV2IKSSKV1SSKV2IKSSKV1SSKV2IKSSKV1SSKV2ISSKV1_0SSKV2_0

19501.01.011111111111111111111

19511.11.21.11077111811.04470094441.27261601041.26777595341.22530710051.2631721891.00255453841.02619624361.03388820891.04861227921.07937689561.09627243581.11247004220.7518364741.03777594221.08437783641.07285269410.99303701570.70745844021.0438553843

19521.21.31.23599840821.19139559291.46388219511.49656182471.38680012681.19147202611.00633513591.05408420151.07024791531.10798990751.16810024471.20394169851.23924127020.83455764931.07799496971.18042623321.15042168531.06984630930.49516164791.0877265764

19531.51.61.5448587981.73850996851.95009400291.9606122761.91758949352.0820206411.017200121.090615991.11822080721.44087468461.26205701331.31928826971.37603146180.88757585441.14222557561.3326927981.30193317181.44732664690.56964425861.2661516748

19541.71.91.86166820271.89496327392.43346471212.45535139622.45709978362.33432916891.03728351771.13860881781.18166265571.87956265771.38043532871.46149667311.54579720271.08655381671.21799879071.5030848631.46844177811.6848257450.65368455941.4615528541

19551.92.22.1339633472.01678908712.84597174312.91960414722.86085937772.40331341661.06318095121.19436301291.25581548492.16854499581.48164930561.58993478331.70006290670.97460875121.294910421.65491803011.62017028471.7806840320.72657676561.628848222

19562.12.42.32443246761.96820566632.94012663473.15323451032.90298966861.7729494841.08814798531.2499954461.33022447832.14936921781.59023210371.72866374131.86763041161.04567230921.35992758721.78832744411.731563641.68976838160.79085304211.7296157496

19572.22.52.17730207221.23221406092.57281125713.00814846072.40201200520.58989679521.10971767021.30248136871.40079153952.01463414631.70318675431.87491026472.04520059731.09517725971.39134912231.86326907911.76023070321.26690237390.81161451351.5823728839

19582.22.61.92282680971.08153200422.36990527412.91732304451.93822219720.83297121131.12506718031.34824506531.46261778651.74550042051.82245219712.03080031582.23539401841.16001277551.41880656592.01831646281.8101218781.20456021360.83579631121.4406825005

19592.22.71.63220624570.93284365162.342628152.92402352521.67884622051.19391634981.14573205391.40118806011.5344630452.00689655171.95974385562.20853719192.45321136051.31443628231.45271943542.36245254741.79500980991.29435745720.8546511381.2768903723

19602.32.81.56645303051.42885624342.57240766383.08834593051.79479788191.8663769691.16559288721.45396843281.60638443541.98873002522.07888077412.37148826022.65373618131.19786010861.50238088432.48311239391.8373990081.52449671690.89967612951.2865478491

19612.43.01.60087010781.52822665272.80622634623.23476232442.093884739121.18788577071.5105707411.68381022252.12026913372.21171932012.5520485852.87678458471.31954647081.55842293182.61002814711.94455007681.65405151890.9463820861.372715059

19622.53.21.78684784841.72896117522.73548150323.15428216722.18256363721.31097229771.21134641921.56951175281.76472266362.19529015982.35859759562.75102773453.12346268261.44586394121.61179301192.73248893172.08876489061.66029295040.98924329231.4920227937

19632.63.31.87930533681.5035676812.7458505723.1096623652.25118612511.48995111351.22941377281.62260132361.83784381441.96635828432.4982533632.94663290363.3667611841.41344618331.65384749692.83045589032.19181952691.52752723861.02985398311.5677397727

19642.73.52.04604495031.80272822672.87405270573.13085830012.35666403681.81042911461.24924715641.67866530561.91529931782.06526492852.64225055013.15081508813.62150959881.46742254871.70796711792.95392894522.32482778081.7188108811.07951683611.6724056375

19652.73.51.91243460981.18021985572.77578609933.01636483052.16965275731.27367044691.26703833461.73293970991.99049695431.98876010082.79093886783.3640960043.8883714081.52470155571.7348259063.01377368442.33520713391.37416863311.08829204991.5997346174

19662.73.61.85745596111.41561428372.77730969023.00183571042.10957333721.48785420481.29301099681.79838436152.08141234362.38567913252.93046003243.5718960484.14906729631.47784545241.77517393413.10212734282.39548474031.56439759391.10259939871.622220621

19672.83.71.74959865421.27245497922.71524936582.98745172622.0540836181.31872637091.33658694781.8873915932.20536688293.22824702443.07709496613.79133905234.42505147531.55277567661.82416972633.18799747482.45644567651.70183232331.13012466681.6679322843

19682.83.81.77724835051.55734459322.74611539293.05813823422.06433909921.53391884341.38772566641.98770465482.34538821153.62037637213.232060284.02397058774.71829646381.63798656491.88905049763.30394927332.57021369531.93636913321.16886436861.7347637302

19692.94.01.85484299631.70388152192.86880919813.16309144072.17243204021.79584843111.44580110452.09880604092.50080101333.99043152383.38523290934.25913821025.01537422661.64787181881.96501091883.4383909852.71736579342.11967499261.21442101351.830601699

19703.14.22.15552074962.21351305683.1172995123.34450973632.48119386192.1976531261.50160867772.20899375282.655243593.93899448243.55384384924.51548780365.33985712351.78784701352.05641529223.61732281262.95323747952.37623173141.2774138922.0130201732

19713.34.42.49824560482.50463828483.35358122793.52537085182.76977481962.2978521211.55737062222.32108931992.81265250853.98876554683.71275852124.76613004145.65770583831.74000238482.15163642083.81457057913.20050648272.4916911971.34791271442.213967389

19723.54.62.74278750992.37641847223.62639178033.77183851453.10456806922.52178678771.61177545242.43337386222.97059991123.97752020173.84565515284.99290168465.94578149881.56720814732.23862658934.00422477883.4214934312.44260417471.41730655092.4090365075

19733.64.82.90722051092.39694403493.8019928113.99454084283.29569967132.40780202491.67536293432.55969410373.1485775654.4550308734.04104200895.29230889716.32674212492.06008690482.33630519864.19909737013.62352501112.65503172521.48980141872.5511149154

19743.85.13.09362771922.66572497944.01883640434.24903562463.48073804972.61189863561.74929316742.70193751363.3492910684.99501568364.22967269275.58986468016.70591576232.03853705142.44657448174.4164858743.84183560362.89001518681.57093376672.7029443599

19754.05.33.15930713932.57335994734.27068690514.54033773153.66771931132.82137505811.81655791112.83788620593.54139068024.7538655064.37703072045.84709238777.034158031.75483026562.54379455774.61697433754.0177684622.77500237291.63989283861.6963304328

19764.15.53.23074883642.68690008534.89033838255.13668847694.25515472263.93903096251.88727007722.98079621493.74358977214.97668993614.53704265056.12275756597.38638594181.87286019672.65529058694.85606869134.24276621033.03897353011.90425898112.7896555617

19774.35.73.31700943192.73873362655.18741572265.52849492454.5348801953.40811078411.95865081643.12707727183.95080924835.0735248524.7233839926.43255610747.78270700512.0962669342.76178355075.07665063144.4478858693.06036814672.04661815032.921995354

19784.55.93.52887388293.16977044345.70260027686.08603850785.05395444594.14985233792.02439799543.26827838584.15105803644.8779807964.95055430636.79359819718.24510390232.43335409062.88370729915.34106462894.71959256713.34644856332.16703086383.1582180204

19794.86.23.7781106393.41841555116.34949738766.75174572015.69370713184.77727289072.09043377563.41219463164.35537131734.95253326895.13957490447.11817324988.66123216792.17910536133.00793843225.6256471255.01141526833.47383362932.29036012273.3915818021

19805.16.64.19564063133.98728541886.9201041847.38222992456.2245135114.91916542732.18047857473.59101011144.60947723526.13017079465.31870010127.43706683669.07047469332.13284237323.15712114775.95143352275.35906939873.93147296542.43152067083.6687884969

19815.57.04.63415598064.27152548977.37734444267.9398416226.56324437284.92118285672.28029666623.78624766414.88717080156.6682813815.51230030567.77765206119.50795002582.26945658163.31541161696.29292135755.7075916374.17793537582.57534305523.9225931594

19825.87.44.96677046174.24697275967.88831397278.54511096967.00469202185.30920178382.38493570013.99151273425.17937206536.98523351445.71266440658.13160225849.96297423162.34992254813.47420660346.63598390136.04298880054.30156856752.716873374.1555114109

19836.27.75.1930487184.28750425058.12549352328.95131489327.07600091284.85057282672.48735205734.19733523455.47259503146.97919434765.97011885548.556692965510.50987942512.81215701863.62835714476.96221021386.32716110484.35235286632.85050163894.3481912476

19846.48.15.27517196694.15006092568.31838225299.29892441927.05204599154.85897878262.59752052234.41736540685.7862849827.43483907026.2251158568.986366136611.06307908932.83252064163.77960979767.27816911586.58158145294.40648705282.98026615144.5220857245

19856.58.34.99666549823.37359707568.19844144749.36365332756.71270901424.1259794232.71661636794.65352136436.0387885197.95233319076.48862791469.433198485211.52914464332.93552498683.90841263737.48564428276.62557585114.176416763.06808659984.5203226366

19866.78.64.87725708853.81424713078.18828683989.4256140546.4929194844.35529390162.84198406264.90246358096.30558012838.35466664776.77517115769.914242453412.03036230483.14963958554.0570280637.73820464436.75527232054.49554940263.17392378024.5844807822

19877.08.94.98764643264.38207772938.53983556929.68761168676.68012042245.3165990252.92993819275.10371444186.50180440646.7317967567.090373818610.436750068812.57582844853.40981946714.20387738058.0567564716.97540798064.53221950763.304676184.7341426499

19887.39.35.21465757584.67826939379.071046252310.10367778477.19228153685.98470440473.04838330025.35059051266.75987253218.2311760997.385108647310.944483655913.09353370853.30266331534.37907441558.41799142697.28037017055.02492100243.45276624464.9437542015

19897.69.85.55526672174.9592617499.140997115610.17438038437.29350548415.0358400963.14069300295.56500803536.970041987.12621682217.673948779411.453838020313.6058055373.30266331534.5271818278.73619068957.55151469134.76179848353.58312978845.1290791512

19907.69.95.29211231623.27187887688.74195972629.86534055076.91988503223.81975577353.26920342935.83348745187.25312155668.89510538818.388711007812.4700697314.75080012986.56868381374.72295165088.9851417887.76254135335.51530577423.68547999335.2738735086

19917.510.04.8020546992.81678683648.21624878449.40822231766.26201499953.26788895313.39378390686.10087878317.53071745368.83188793239.216501669313.63891169316.07388717947.53195182864.91468302829.20047080447.89186091995.4991979073.77554337625.3654620731

19927.510.24.61306968713.69316801068.22948731089.3006126076.03661700114.42733611363.53653608346.39825097177.84564354629.792572600410.066113943114.856477120617.4419755687.82229646165.16020504429.51154113658.14358549936.27695624963.90316626915.5375239145

19937.910.64.95721847985.09917065419.942970082210.48504053277.70180732698.97869642513.71592867546.75243179718.235362000811.628807177511.068245959316.27786278219.04796219099.10474037895.528954688810.09929394498.82599254128.09997058454.14299342056.035769815

19948.311.15.66157352756.006292050411.522675262311.79823371499.60575543269.53707916713.92596902747.15626427628.688573030613.22049937712.159621640217.832842592920.80202734379.93154654685.948767447110.79024631049.62230743849.08131998824.42602337766.6109228133

19958.911.76.70567863836.748738236112.106708304712.537501480910.63594729387.72034548734.1679454067.61271927259.208106157314.900583748213.084274640219.220149349922.32804621178.83534132746.354037007911.469866347410.38819442039.16354887174.70526700727.1357428459

19969.412.37.58464243096.798295220412.075166878712.858276606610.81945712726.38727662084.40406652418.06900728679.721281748714.853359996713.964539388820.58050976823.80217330288.63943110766.733985699412.092607562811.05801520219.03561616714.96510917367.5981323036

19979.912.98.18928083566.920096775412.365546005313.346616042610.8724306537.23082112614.63957488158.532442076610.238077089815.044427602414.640794004221.721959378824.98735911327.2291842347.088247109112.705857354911.63441780528.85394995965.21891681847.9977781374

199810.413.58.46851222446.837602568112.068443837213.35629187359.86417783925.81586638274.85127363498.96970781210.71299985214.156450926415.259101027322.81330038926.09497293596.89310555557.389439177513.250538717612.0526935618.2960718575.45367787828.3151392611

199910.313.67.69336774654.3519372310.775496656212.5515267127.93622011282.99543301934.95223186859.254783125310.97471625789.204717107515.541001679823.518384422326.71106755324.44157733357.47765405613.499093880412.10498911635.42925202295.57607912878.4101541277

200010.313.86.98311231094.52881018219.640125818511.72379439996.41376158482.7254528945.10914627019.624304237311.347126938711.90012344115.562029334923.917978496626.94070060042.5105955947.58038666513.750094697712.1908221295.57960506625.67640446448.4653550798

200110.414.06.49030309134.84888281269.478374649611.47050220286.05829711744.72076302765.268234643510.002468186711.726798112512.147102602515.618412050724.361794450527.21383154462.78125620577.724713453214.025724420812.34234417526.1277117885.78975637948.5711215874

200210.414.16.0783217154.71465570099.498338282811.24712218116.01303346955.11997330535.414550518610.367675299212.083767630711.701207499915.85997265525.032226827927.75340320474.19075185987.89673817214.283150757612.54220814586.56245272835.88291785198.6850815811

200310.614.46.23228269985.75674778979.806463714911.10765556626.62904084895.90082173925.595872017410.788973808912.511381703813.464750546816.1389819525.755633329528.3441901594.51062070688.126314667314.658813927912.98316646987.43858257636.0207076649.0234053282

200411.014.97.00983202396.887899843310.261157548611.01384895797.67061351746.45726548695.807076702411.260173238913.000935811815.022689545316.566747262226.668539672129.15099846745.67825213768.423560025615.139109113513.69020949198.51091802766.19144666389.9766885458

200511.315.27.45573867226.33174327210.315955262210.79846723738.13037353465.63150773036.13709173211.912362459713.727743768820.742843091217.169266515327.807154571630.21562613657.06507929968.820801478215.653170401614.418251639610.087057986.33754574110.6211724223

200611.815.78.27171918837.734314095911.706576272511.7701271659.67750619979.23108664846.528615502712.665900726814.583354594123.909388823517.826697625929.03031584131.36463906717.57168252959.335808414316.474029443315.366820001611.90982768836.66519567811.3979843675

200712.716.69.6739132939.875887996113.779786667413.519891672311.971373685111.79880897986.966732519213.501134501515.540699267726.439672591318.483860861830.272118739832.51751869637.66913189929.950815809817.503204868116.51202627713.62885272757.093086999612.3552929723

200813.817.711.361282255411.632390857115.396307836915.197987914113.807396625711.68642855947.447758730814.414356831516.594754539728.842000914319.262069990831.681545388333.85163226058.684340743310.631090993618.649777043317.73227535914.97225571647.565277367513.3337737833

200914.518.512.10670369.956586254916.017195149416.379059638214.5326969.88947698987.98096762715.420835407417.765363276931.715374006519.91584615332.960190546435.00792066017.860693331311.271043115519.715485997718.786727730914.84845575537.994263498414.1321388434

201015.519.613.275609798311.74279782917.26170508818.089241771315.728131508311.88814028948.478272274616.392237755518.878673652530.541905168320.518103142234.194274349836.08992192017.56984767811.932974265820.843507856419.866016668815.48735674418.454902593814.9568124305

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Acervo

SSK-30-0.5

SSK-5-0.5

Inversin

Indice 1950=1

M&E

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Acervo

SSK-11-0.5

SSK-5-0.5

Inversin

Indice 1950=1

E. Transporte

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Acervo

SSK-113-0.75

SSK-60-0.75

Inversin

Indice 1950=1

Constr. y Edif.

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

0000

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Acervo

SSK-113-0.75

SSK-60-0.75

Inversin

Indice 1950=1

Vivienda.

Fuente: CEPAL, Banco de la Repblica, DANE, Clculos del Autor

Acervo

SSK-MAX

SSK-MIN

Inversin

SSK-MAX-iact

SSk-MIN-iact

Indice 1950=1

Agregado de la Economa

111

0.61383059760.7391935056-0.6838398274

1.02698325451.05022019060.9355283403

1.05067538811.0317085230.9416488356

1.36649422261.25237084251.3137474283

0.82893906150.84510703480.8556019306

0.91227615210.89060504930.6012975922

-0.28206763840.1132940121-3.7828476769

-0.43118702620.1243728468-4.3471969137

1.76468151841.77018904042.0037994338

2.05157781211.94962239092.6625491729

2.02857782731.90143869532.6190706953

1.77387054031.65795538792.384485258

1.04783683231.1242927265-1.559412097

2.10097703821.85141297632.287849718

1.00852298321.06717616620.5402724478

1.04429257671.1083676067-0.1450811354

1.71031994591.55950006172.251661195

1.56395423271.43944031212.0154363728

1.42266449211.31668280251.7089469743

1.9318257621.70716427652.1535662267

1.62702581691.45844331121.7318650655

1.61136258931.43774443711.4346919141

1.41045541341.2963343578-0.0305216098

1.31690473761.2317848031-0.7342139482

1.66295305261.47964072650.7166880476

1.55089056571.3886775410.243370009

1.79480454251.53855811511.1425292878

1.5195778151.32162394922.3622705208

1.46833390241.27081400152.0424468931

1.31476073721.13812813481.5307396336

1.28239573881.10016325622.5274772474

1.25730791951.06243456082.6834873015

1.03366508660.89866435042.9214769936

1.16948068380.99341946723.1772832353

0.52999698190.56230519061.4153205075

1.08037686610.95893242242.1893100615

0.92023964450.86139272282.4045891211

1.20691859921.07244737222.7642290198

1.20199821821.06841511993.1430299517

1.12640351111.01744635022.7167949462

1.54582804441.30293456864.276406395

1.74960893881.42516462914.2508649619

1.38545259741.13982771993.0694421147

1.23689495091.00152674733.3126651374

0.8033058420.67889638772.6436741381

0.7934729010.67035265432.8400340353

0.80767271430.67666023432.2852615672

0.6364393460.5549856649-1.0457666665

0.44143006550.42221539221.1734331084

0.75062154470.66038980731.2268771379

0.99315477750.83273075712.6104274627

0.82791772740.71227440111.4510275719

0.83612299060.72168609781.1966534593

1.37039924131.09477036742.5908467649

1.08098330730.86970687292.0529130102

0.8456992130.69221363041.3931480827

0.99174310650.7854716292.0889661999

0.82164256090.65065476491.6993576529

0.5039622050.4162070290.9176166226

0.54129416220.43973387860.9247624074

Base SSK-30-0.5

Base SSK-5-0.5

Base_i_Act.

M&E

111

0.76396408470.83050147690.1611619021

1.00460460461.03512338410.9088825678

1.10020863591.08188055681.0434754495

1.39628038741.30112225481.3623338615

0.97269654480.95713281971.0989926269

1.02341342760.98161034340.9355014673

0.08471298620.3373478681-1.6817859467

0.11395610240.4727023644-1.8002108939

2.30447981042.17680883152.9411783036

2.11836660091.99696208292.6115598797

2.00547470071.87860965252.435588363

1.4384894041.42623999961.4730856122

1.65951835611.56821694820.8278980123

1.75961418081.63902922291.5236377452

1.43372255751.38636051611.529209313

1.22667385521.24769598140.6483228

1.77390805851.6561963812.0493555626

1.40544347291.39573209751.2817240083

1.96096402651.81147007142.3225319509

2.14141395162.00522560311.8615480455

2.74886071592.41103515323.4671627798

1.89419207791.75405928111.5883270113

2.330057732.07130100231.922951022

1.78478642111.65033681530.5980801445

2.03500398181.84825902141.39338145

2.23653774991.98507685721.7361766061

2.40844773272.07256006642.4484124898

1.67401985581.49275390412.2183620781

1.6172616211.44569120421.9420284313

1.5524891311.38385072411.6822376009

1.62093450121.42858010762.5347425278

1.74564764851.50482774922.9222908126

1.74722650871.49439156793.4635533078

1.28664595431.14254720922.5779890158

1.42235312991.2716259982.6934739575

1.06682626431.01033164951.6137212775

1.33794532581.25279222592.5711488113

1.85643713341.66232591513.2526478659

1.90414726851.70152682583.6530033031

2.11079014891.85393751353.844570023

2.11355888251.83628691164.2507781574

2.11608123281.82410262393.8451841069

2.34556890091.96208710034.0655468089

1.49234064851.27400716552.9589916386

1.35115058771.15410982073.0035412563

1.41319127131.19477745613.2472883066

1.15943622110.99468856752.3542262279

1.01693323080.8893114193-0.105026073

0.72657838720.68073784991.4075024711

1.32369621761.16155562441.9298794019

1.53807722231.32657869592.9699121669

1.60496853791.37426793492.4796413212

1.40635322391.22573728391.8789698134

1.73700670521.47578595172.4761284217

1.83889899471.5354042072.8354338877

1.51683290421.27541628472.1825088555

1.42234845731.1908481532.2807286766

1.35350443491.12469271392.1741399305

0.55285056050.51177026370.6337715524

1.27304319461.06622556961.8616860065

Base SSK-11-0.5

Base SSK-5-0.5

Base_i_Act.

E. Transporte

111

1.02182968830.97485721860.5987546832

0.81236266260.83554457820.6784077638

0.80570450310.80020345560.5774110266

1.04679515450.96837563870.7568998948

0.69457655520.70268162360.7799071446

0.64282203040.6568692995-0.029184213

0.73298116460.7160537572-0.3610491055

0.43197167730.5177413989-0.849274134

0.52921571290.62415177970.0002420959

0.66266243480.72852313850.2024681064

0.70825868570.77195067580.1229286595

0.71015316130.75880755290.3146778817

0.7166528330.7480476907-1.6673528375

1.01209222370.94981988520.2158821322

0.65633909640.70496885490.1246786224

0.84868265570.82993277490.1742375921

0.86494242560.8251770950.8879782385

0.88855758680.83417627681.0759086416

0.821513620.77315427960.8971135212

1.05106304790.95902509880.6789076292

0.93479010110.8654852920.559208015

0.9122985370.85315275040.048401026

1.23371733711.06352341360.3165095362

0.98163272280.8793382852-0.7972043358

0.92506535540.8404086072-0.4488354976

0.94406396160.84603609-0.5729410435

1.01255172130.8791414295-0.1606583067

0.59063731250.58921949440.3233957569

0.73029603370.68769722930.4209648898

0.80907124260.73025785080.4315172273

0.6840275250.64082827981.3744033528

0.93525239540.80002749142.5052851872

0.90460582930.77459277013.5358948708

0.83976432890.72779357123.215650505

0.09584793810.24926518280.4762716175

1.13401111850.95611938893.1192896843

0.99489708870.86272728673.4814784977

0.5653083970.57553867931.5937246276

0.81527566780.75216805952.9546204261

1.02224172520.89174322683.3217235498

0.84796332120.76693898493.4806392332

0.81631957270.7503502342.5995109242

0.80138465310.74150301661.9611676781

1.40627714391.12602345855.2264907781

0.80813208350.70421611354.1161250236

0.82930182010.71956553694.6991179438

0.87708000990.74905245663.5734570853

0.91700606070.77602917-2.5521714333

0.92101204380.7776240143.2283855964

1.0072861250.84567515082.2237512819

0.78497273680.69108048332.9142544249

0.57756855050.55327783740.7515837898

0.97380610020.83067210881.5682650206

0.4935045910.5081731574-0.3102200934

1.08851799920.91518680451.9316803004

1.02033792730.8656607121.3683993314

1.08025334160.90062641752.3745186626

1.050844650.87330819312.2079761889

1.07940418080.88610337992.3155136466

1.18917260380.9522687052.3479727189

Base SSK-113-0.75

Base SSK-60-0.75

Base_i_Act.

Constr y Edif.

111

0.79455542920.8663902449-0.0470049159

0.97365467530.93330904320.8560192362

1.03009978730.95324333160.8842097727

1.37050304831.18311550941.2510936906

0.88185638910.84076194930.9825863618

0.93173966610.83578003960.5158881055

0.06447719910.4172541694-2.6386138599

-0.11802743240.3390497285-3.0915758593

1.53296084941.00352112281.5012544553

1.72341246081.0458262551.9073450062

1.70291540641.03107666841.8312768199

1.47374657120.92998763681.6316280211

1.04475534070.790026824-1.3523404506

1.79017404551.08636038421.5413927606

0.95821140520.70622279240.5181464646

1.01513723240.74979679570.0574069259

1.44561223730.83959496941.7150511334

1.32170530110.79349385871.5567262843

1.24997720570.7590696021.4305338758

1.62561104960.96840092751.5347761919

1.46114348910.91843120541.4678461213

1.37348758590.88082339290.931775689

1.40589399720.98226745120.3172811383

1.21524336980.8437919107-0.6047839783

1.39776684660.88298811770.3563270704

1.36419153250.87988896390.1248994545

1.52797333890.92972449730.8252487508

1.16166891810.69212565861.6110732404

1.18575686620.74102830891.4732398096

1.13513902380.74538951391.1992773039

1.0836637650.70082736882.2148807906

1.18051645040.79117154912.7938827196

1.05350320360.7371674893.3870504411

1.04657345720.69743646973.2709031682

0.44590279180.33497624851.2894055365

1.07759330520.78757786482.5412461472

0.96842538950.72834495172.9155772982

0.99000230070.62837083962.4721317584

1.08584119580.7335513673.2425248125

1.12029049380.78504296713.0811781051

1.21040628960.71640073343.801978843

1.25543553590.6952016533.3026264934

1.09306762160.6660858422.5474486187

1.1879728380.82866667213.717666595

0.75685086430.55267887553.0102631545

0.7599965690.56134039433.3096881841

0.76308934830.56554547262.55279121

0.6954259920.5494856434-1.4018948068

0.59379687490.5109798541.8279359521

0.79001393390.59159766491.5108949753

0.80602965010.52545485362.4227146524

0.65257407050.42826908591.0626897491

0.80676928250.58442548791.2306535162

0.82157800290.46012541991.1006740973

0.95964056350.66867191641.7702493543

0.8272856210.61983270141.2503545457

0.90699490660.66130990561.9491746076

0.83405158580.63592733871.7443093931

0.68924350260.58521304771.346876055

0.79777031630.65587999211.4821500989

Base SSK-MAX

Base SSK-MIN

Base_i_Act.

Total Agregado.

11

1.37235726731.2805928964

1.55327013951.4007270544

1.22997894071.1202828726

1.09809223670.9843533736

0.71315992360.6672552195

0.70443042230.6588579872

0.71703675130.6650574098

0.5650189650.5454692179

0.39189336790.4149755828

0.66638778850.649065975

0.88170426290.8184517611

0.73500989580.7000608936

0.74229437530.7093112062

1.21661485231.0759981273

0.95967679140.8547938403

0.75079596670.6803441088

0.88045100770.7720029944

0.72943892020.6394978613

2009

2010

Base SSK-30-0.5

Base SSK-5-0.5

M&E

11

1.00131170480.9904793976

1.0025066840.9839072841

1.11122789831.0583350765

0.70700569130.6871899167

0.64011601930.6225181875

0.66950818020.6444540052

0.54929014220.5365275584

0.48177846170.4796879144

0.34422104330.3671848943

0.62710934020.6265343982

0.72867367850.7155466062

0.76036385650.7412698243

0.66626861260.6611535044

0.82291776190.7960278817

0.87118986970.8281855218

0.71860905030.6879499851

0.67384645420.6423345686

0.64123116910.6066508206

2009

2010

Base SSK-11-0.5

Base SSK-5-0.5

E. Transporte

11

0.82951350960.86