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Metas monetarias como instrumento de estabilización macroeconómica

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  • Jorge H. Toro C.

Abstract

Este artículo emprende una selección de metas monetarias para la economía colombiana utilizando una variedad de pruebas econométricas. Inicialmente se discuten las condiciones bajo las cuales se justifica adoptar una meta monetaria. Posteriormente, se distinguen dos tipos de metas: primero, una meta próxima cuya función es aportar información sobre variables económicas objetivo no observadas. Segundo, una meta intermedia, cuyo papel consiste en modificar el comportamiento de la variable objetivo. Se encuentra que efectivo en poder del público es la mejor meta próxima, mientras que la base monetaria es la mejor meta intermedia.

Suggested Citation

  • Jorge H. Toro C., 1993. "Metas monetarias como instrumento de estabilización macroeconómica," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 12(24), pages 43-71, December.
    • Handle: RePEc:col:000107:007538
    DOI: 10.32468/Espe.2402
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    Cited by:

    1. Gamba-Tusabá, Camila & Gómez-González, José Eduardo, 2017. "La política monetaria durante los primeros años del Banco Central independiente : 1992-1998," Chapters, in: Uribe, José Darío (ed.), Historia del Banco de la República 1923-2015, chapter 9, pages 411-435, Banco de la Republica de Colombia.
    2. Antonio Hernández Gamarra & José Tolosa Buitrago, 2001. "La Política Monetaria en Colombia en la Segunda Mitad de los Años Noventa," Borradores de Economia 172, Banco de la Republica de Colombia.

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