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La inflación y la política monetaria colombianas del período 1996-2006: una interpretación

Author

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  • Carlos Esteban Posada
  • Camilo Morales J.

Abstract

Con posterioridad al año 2000 la inflación colombiana ha mostrado una declinación gradual a pesar deque la economía colombiana es relativamente abierta y su tasa de cambio está sujeta a vaivenes intensosde los flujos de capital. ¿Por qué? Podrían mencionarse varias respuestas alternativas. El presentedocumento ofrece una: para la autoridad monetaria no es óptimo imponer o tolerar variaciones fuertesde la tasa de inflación y, por ende, se inclina a contrarrestar los efectos que tienen los movimientosexógenos de los flujos de capital sobre la inflación con una política monetaria pro-cíclica. Los datos delos últimos 10 años no sugieren lo contrario.

Suggested Citation

  • Carlos Esteban Posada & Camilo Morales J., 2007. "La inflación y la política monetaria colombianas del período 1996-2006: una interpretación," Borradores de Economia 4291, Banco de la Republica.
    • Handle: RePEc:col:000094:004291
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    References listed on IDEAS

    as
    1. Ulf Söderström, 2005. "Targeting Inflation with a Role for Money," Economica, London School of Economics and Political Science, vol. 72(288), pages 577-596, November.
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    More about this item

    Keywords

    inflación; revaluación; flujos de capital; función de pérdida; política monetaria procíclica;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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