| Description |
1 online resource (27 pages) |
| Series |
IMF working paper, 2227-8885 ; WP/04/166 |
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IMF working paper ; WP/04/166.
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| Contents |
""Contents""; ""I. INTRODUCTION""; ""II. MACROECONOMIC PERFORMANCE OF COLOMBIAN ECONOMY""; ""III. THE NEW MONETARY POLICY AND EXCHANGE RATE FLEXIBILITY""; ""IV. A BRIEF COMPARISON BETWEEN THE BANCO DE LA REPÚBLICA AND THE FED""; ""V. REACTION FUNCTIONS AND TAYLOR RULES ""; ""VI. CONCLUSIONS""; ""REFERENCES"" |
| Summary |
This paper focuses on monetary and exchange rate policies in Colombia, with particular emphasis on the period 1999-2002, when flotation of the peso and inflation targeting were adopted. We argue, first, in favor of adopting "operational inflation target ranges" and, second, in favor of strengthening the current scheme of foreign exchange options. The impact of reductions in the reference rates of the Central Bank of Colombia is also assessed. We find that a lower central bank policy interest rate is likely to affect demand only if mortgage refinancing takes place. We present preliminary estimates of Taylor rules in an openeconomy framework for Colombia |
| Bibliography |
Includes bibliographical references |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Monetary policy -- Colombia
|
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Foreign exchange administration -- Colombia
|
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Foreign exchange administration
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Monetary policy
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Colombia
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| Form |
Electronic book
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| Author |
International Monetary Fund. Western Hemisphere Department, issuing body.
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| ISBN |
1451903383 |
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9781451903386 |
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9781451858136 |
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1451858132 |
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