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House Prices and Monetary Policy in Colombia
Piñeros, Martha López - BANCO DE LA REPÚBLICA - 2006
This paper investigates the possible responses of an inflation-targeting monetary policy in the face of asset price … responds directly to asset price of housing than a policy that reacts only to deviations of expected inflation (CPI) from … target. Some prudential regulation may provide a better outcome in terms of output and inflation variability. …
Persistent link: https://www.econbiz.de/10005768153
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LA META DEL BANCO CENTRAL Y LA PERSISTENCIA DE LA INFLACIÓN EN COLOMBIA
Echavarría, Juan José; Rodríguez, Norberto; Rojas, … - BANCO DE LA REPÚBLICA - 2010
En este documento se estima un modelo econométrico que descompone la seriede inflación trimestral anualizada entre un componente transitorio y otropermanente, este último inducido probablemente por las variaciones en la metadel Banco Central. Se concluye que la persistencia inflacionaria se...
Persistent link: https://www.econbiz.de/10008765704
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Asset Price Bubbles and Monetary Policy in a Small Open Economy
López, Martha - BANCO DE LA REPÚBLICA - 2014
inflation. …
Persistent link: https://www.econbiz.de/10010885940
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The Effect of Monetary Policy on Commodity Prices: Disentangling the Evidence for Individual Prices
cabrales, Carolina Arteaga; Castro, Joan Camilo Granados; … - BANCO DE LA REPÚBLICA - 2011
In this paper we study the effect of monetary policy shocks on commodity prices. While most of the literature has found that expansionary shocks have a positive effect on aggregate price indices, we study the effect on individual prices of a sample of four commodities. This set of commodity...
Persistent link: https://www.econbiz.de/10009404509
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Monetary Policy and Commodity Prices: an endogenous analysis using an SVAR approach
Flórez, Luz Adriana - BANCO DE LA REPÚBLICA - 2010
This work analyzes the relationship between real interest rates and commodity prices. According to Frankel´s hypothesis (1986-2006): low real interest rates lead to high real commodity prices". However, some empirical evidence suggests that commodity prices can predict monetary policy. In this...
Persistent link: https://www.econbiz.de/10008542672
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The international cycle and Colombian monetary policy
Mahadeva, Lavan; Pineda, Javier Gómez - BANCO DE LA REPÚBLICA - 2009
The objective of this paper is to analyze how international cycles affect the real GDPcycle and so monetary policy decisions in Colombia. We estimate that cycles in worldGDP, export prices and capital inflows are strongly associated with the Colombianbusiness cycle both on impact and even during...
Persistent link: https://www.econbiz.de/10005597638
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Central Banking and Macroeconomic Coordination: The Case of Colombia
Clavijo, Sergio - BANCO DE LA REPÚBLICA - 2000
(with no veto power or tight-breaking vote) are serious obstacles to maintaining single-digit inflation, while recovering …
Persistent link: https://www.econbiz.de/10005597707
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Inflation Targeting in Colombia, 2002-2012
Hamann, Franz; Hofstetter, Marc; Urrutia, Miguel - BANCO DE LA REPÚBLICA - 2014
crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as …
Persistent link: https://www.econbiz.de/10010828188
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Policy Analysis Tool Applied to Colombian Needs: PATACON Model Description
González, Andrés; Mahadeva, Lavan; Prada, Juan D.; … - BANCO DE LA REPÚBLICA - 2011
In this document we lay out the microeconomic foundations of a dynamic stochastic general equilibrium model designed to forecast and to advice monetary policy authorities in Colombia. The model is called Policy Analysis Tool Applied to Colombian Needs (PATACON). In companion documents we present...
Persistent link: https://www.econbiz.de/10009021356
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Monetary policy implications for an oil-exporting economy of lower long-run international oil prices
Hamann, Franz; Bejarano, Jesús; Rodríguez, Diego - BANCO DE LA REPÚBLICA - 2015
The sudden collapse of oil prices poses a challenge to inflation targeting central banks in oil exporting economies …
Persistent link: https://www.econbiz.de/10011195737