Explicit inflation targets have existed in Colombia since the early nineties1. The Colombian
authorities announced a quantitative in‡ ation target for the first time in 1991. The …

This paper examines the historical evolution of central bank credibility using both historical
narrative and empirics for a group of 16 countries, both advanced and emerging. It shows …

Inflation expectations constitute a subject of particular contemporary interest to central
banks, especially those pursuing a monetary policy based on a strategy of direct inflation …

El desarrollo económico y social en Colombia está amenazado, entre otros factores, por la"
inestabilidad jurídica", agravada ahora por el activismo de la Corte Constitucional durante …

Colombia has been on a steady disinflation path since the early 1990s. This chapter
presents the transmission mechanism of monetary policy during this disinflation. It describes …

Purpose–The paper aims at developing a theoretical model for de facto dollarized small
open economies focusing on currency substitution and nominal wages indexation to the …

En este documento se discuten los distintos factores estructurales que podrían explicar la
persistencia de la inflación y se evalúan formas alternativas de calcularla. Con base en las" …

Este artículo explora la credibilidad de la política monetaria en Colombia y su evolución
después de adoptar el sistema de inflación objetivo. A partir de la estimación de relaciones …

For monetary policymakers worldwide, developing a practical understanding of how
monetary policy transmits to the economy is a day-to-day challenge. The data such …

The rapid rise in food prices has been a burden on the poor in developing countries. In
many countries such as in Bangladesh, food price inflation is higher than aggregate inflation …