This paper propose indicator variables for the implementation of monetary policy in an inflation targeting regime …

in Colombia. The analysis is based on structural VAR models, we identify monetary policy shocks following [Kim, 1999 …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 …

" shocks and core inflation indicators sent diverging signals about the transmission of those shocks to macroeconomic inflation … careful examination of the persistence of the shocks and a close monitoring of their impact on inflation expectations. It is … addition, inflation expectations partially move with "supply" shocks, an outcome that reflects a degree of credibility of …

to in°ation shocks, specially credit rates. Finally, the evidence presented shows the importance of banks …

at their long term level, while adjusting the policy interest rate to face macroeconomic shocks. Reserve requirements are … movements of reserve requirements depend on the parameters of the economy and the shocks that affect it. …