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La política monetaria y los ciclos económicos en Colombia en los últimos 35 anos

Author

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  • Cristina Fernández

Abstract

La primera pregunta que surge al escribir un artículo sobre política monetaria en Colombia en los últimos 35 años, es la relevancia del tema en un país donde la tasa de cambio ha sido fija o semifija en 30 de estos 35 años. Según los libros de texto, si la tasa de cambio es fija, la política monetaria es endógena. Sin embargo, vale la pena anotar que en Colombia la tasa de cambio ha sido fija pero no inamovible. Adicionalmente, los mecanismos de control de capitales y esterilización de reservas proporcionan, en teoría, un espacio para la política monetaria. Estos hechos explican la importancia que han tenido las variables monetarias en la toma de decisiones macroeconómicas de nuestro país.

Suggested Citation

  • Cristina Fernández, 2005. "La política monetaria y los ciclos económicos en Colombia en los últimos 35 anos," Coyuntura Económica, Fedesarrollo, December.
    • Handle: RePEc:col:000438:013371
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    File URL: http://hdl.handle.net/11445/906
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    More about this item

    Keywords

    Política Monetaria; Política Cambiaria; Colombia;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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