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Monetary and Exchange Rate Policies in Colombia :, Progress and Challenges, Sergio Clavijo

Abstract
This paper focuses on monetary and exchange rate policies in Colombia, with particular emphasis on the period 1999-2002, when flotation of the peso and inflation targeting were adopted. We argue, first, in favor of adopting "operational inflation target ranges" and, second, in favor of strengthening the current scheme of foreign exchange options. The impact of reductions in the reference rates of the Central Bank of Colombia is also assessed. We find that a lower central bank policy interest rate is likely to affect demand only if mortgage refinancing takes place. We present preliminary estimates of Taylor rules in an openeconomy framework for Colombia
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. MACROECONOMIC PERFORMANCE OF COLOMBIAN ECONOMY""; ""III. THE NEW MONETARY POLICY AND EXCHANGE RATE FLEXIBILITY""; ""IV. A BRIEF COMPARISON BETWEEN THE BANCO DE LA REPÚBLICA AND THE FED""; ""V. REACTION FUNCTIONS AND TAYLOR RULES ""; ""VI. CONCLUSIONS""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (28 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462306480

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