This paper focuses on the role of debt maturity in managing the government’s incentives to use opportunistic inflation … powerful instrument to affect the time profile of the inflation tax base and, hence, to mitigate the distortions introduced by …

The possibility of reducing the real value of domestic non-indexed government debt through inflation is studied. A …

We show that the presence of nominal non-indexed government debt could give rise to more than one equilibrium inflation …

This paper describes economic developments in Colombia during the 1990s. Economic activity slowed in 1991 as financial … policies were tightened to curb inflation. However, activity rebounded strongly to an average of 5 percent a year in 1992 …

This paper reviews economic developments in Colombia during 1990–95. In 1990–94, Colombia built upon the structural … reforms initiated in the mid-1980s. The administration achieved its objective for output but not for inflation. Real GDP …

This Selected Issues paper and Statistical Appendix analyzes economic developments in Colombia during 1996–99. Output …

This 1999 Article IV Consultation highlights that the recession in Colombia intensified in 1999. The unemployment rate … rose to a record 20 percent in September, while inflation fell to 91⁄2 percent and the current account deficit came down … and higher outlays on interests, wages, and pensions. As market sentiment toward Colombia remained unfavorable, the peso …

capital inflows. A sudden acceleration of domestic demand places an additional burden on monetary policy. Colombia’s financial … labor and a relatively high minimum wage are significant hindrances to competitiveness. Colombia’s exchange restrictions …