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 …

" shocks and core inflation indicators sent diverging signals about the transmission of those shocks to macroeconomic inflation … state of the economy. Regarding the second episode, an evaluation of core inflation indicators according to standard … pressures should not rely only on one or few core inflation indicators, since some signals could be picked by some measures and …

mechanism of the monetary policy, and determines the final effects on aggregated demand and inflation rates of exogenous … scenarios, totally different reactions on economic activity, and little quantitative effects on inflation rates and aggregate …

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. …