Echavarría, Paulina Restrepo - BANCO DE LA REPÚBLICA - 2005
Since 1991, inflation in Colombia was reduced from 25% on average to about 6% more recently. Although this performance … is in line with a long run inflation target of 3%, some analysts ask whether the Central Bank should continue ting. In … this paper we present a dynamic stochastic general equilibrium model of inflation targeting for a small open economy to …