Katalog GES



Inflation Targeting in Colombia, 2002-2012

1st Person: Urrutia, Miguel
Additional Persons: Hofstetter Gascón, Marcel; Hamann S., Franz A.
Type of Publication: Paper
Language: English
Published: Inter-American Development Bank (IDB) 2014
Series: IDB Working Paper Series
Online: https://www.econstor.eu/bitstream/10419/115457/1/IDB-WP-487.pdf
id
oai_econstor.eu_10419-115457
recordtype
econstor
institution
MPG
collection
ECONSTOR
title
Inflation Targeting in Colombia, 2002-2012
spellingShingle
Inflation Targeting in Colombia, 2002-2012
Urrutia, Miguel
IDB Working Paper Series
title_short
Inflation Targeting in Colombia, 2002-2012
title_full
Inflation Targeting in Colombia, 2002-2012
title_fullStr
Inflation Targeting in Colombia, 2002-2012
title_full_unstemmed
Inflation Targeting in Colombia, 2002-2012
title_sort
Inflation Targeting in Colombia, 2002-2012
format
electronic Article
format_phy_str_mv
Paper
publisher
Inter-American Development Bank (IDB)
publishDate
2014
language
English
author
Urrutia, Miguel
author2
Hofstetter Gascón, Marcel
Hamann S., Franz A.
author2Str
Hofstetter Gascón, Marcel
Hamann S., Franz A.
description
After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the short-term interest rate as the main instrument. This paper examines the experience of the Colombian Central Bank over the last decade, a period of consolidation and innovation of its IT strategy. The paper studies the increasing number of instruments used by the CB, including systematic foreign exchange interventions, announcements, and, sporadically, macro-prudential policies, capital controls, and changes in reserve requirements, among others. The study also examines some political economy dimensions that help explain the behavior of the CB during this period. To guide the discussion, a small-scale open-economy policy model is estimated.
url
https://www.econstor.eu/bitstream/10419/115457/1/IDB-WP-487.pdf
series
IDB Working Paper Series
seriesStr
IDB Working Paper Series
IDB Working Paper Series
series2
IDB Working Paper Series
series2_facet
IDB Working Paper Series
up_date
2019-12-10T03:50:16.357Z
_version_
1652503166959222789

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