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Efectos de la comunicación del banco central sobre el desacuerdo en las expectativas de la tasa de política monetaria: evidencias para Colombia

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  • Juan Camilo Anzoátegui Zapata
  • Juan Camilo Galvis Ciro

Abstract

El objetivo de este trabajo es investigar los efectos de la comunicación del banco central en la formacióndel pronóstico de la tasa de interés de política monetaria.Para ello, es utilizado como estudio de caso la economía colombiana para el periodo 2014-2020. La metodología empleada consiste en evaluar los efectos de la informaciónsuministrada en las minutas, el volumen de noticias y las publicaciones del banco central sobre los desacuerdos en las expectativas del mercado financiero. Por medio de regresiones econométricas, y utilizando el método GMM y la metodología VAR de impulso-respuesta, se encuentra que las decisiones de política que se realizan en consenso, así como la claridad en la redacción de las minutas, tienen la capacidad de reducir las discrepancias entre los agentes.

Suggested Citation

  • Juan Camilo Anzoátegui Zapata & Juan Camilo Galvis Ciro, 2022. "Efectos de la comunicación del banco central sobre el desacuerdo en las expectativas de la tasa de política monetaria: evidencias para Colombia," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 14(2), pages 375-409, June.
    • Handle: RePEc:col:000443:020559
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    References listed on IDEAS

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    More about this item

    Keywords

    desacuerdos; expectativas de tasade interés; comunicación; política monetaria; BancoCentral; Colombia; econometría.;
    All these keywords.

    JEL classification:

    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications
    • 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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