Evidence of the causal long-term relationship between budget deficit, money growth and inflation in Colombia is … relationship between inflation and money growth on the one hand, and between money growth and fiscal deficit, on the other. The …

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 …

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 prices is essential to understand the dynamics of the balance of payments …

Typically, when forecasting inflation rates, there are a variety of individual models and a combination of several of … technique for series integrated of order one. The empirical results of Colombian inflation show that the Bayesian forecast …

prices covaries with inflation and cumulative inflation since the last price update. 10. The decision to reduce prices is … results are summarized as follows: 1. Colombian consumer prices were found to be sticky. More precisely, they were found to be … changes were found to be larger than inflation. 4. As inflation is reduced in Colombia, the following happens: (i) price …