monetary policy framework in an inflation targeting regime. In all cases the Central Bank (CB) minimizes an objective function … that depends on deviations of inflation from its target, the output gap and deviations of reserve requirements from its …

crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as …

inflation targeting regime are not as straightforward as those under a monetary targeting regime. Conceptually, those effects …

The Colombian economy experienced several shocks in the past ten years. The permanent fall of inflation, the adoption … of inflation targeting (IT) and a financial crisis altered the transmission mechanism of monetary policy. Low inflation … and IT reduced inflation persistence and contributed to anchor inflation expectations. The evidence is less conclusive …

information so as to reduce economic volatility by manipulating inflation expectations. Using a standard model, this paper points … inflation announcements. Therefore, even if transparency is preferred over secrecy the central bank cannot credibly commit to …

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. …