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 …

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 …

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 … disinflating. In this paper we present a dynamic stochastic general equilibrium model of inflation targeting for a small open …

This paper explores the relationship between central bank independence and inflation in Latin America, using as a case … recovered its independence and its focus on price stability. Inflation varied substantially during these subperiods. The …

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

(2011), gives the reader a basic introduction to understand the comparison between two monetary-policy regimes: Inflation … function (both of which incorporate partial indexation to lagged inflation), finds that for standard values of underlying …) only when the initial level of indexation to lagged inflation is higher than 60% then it is better not to switch to PLT. …