La política monetaria y la Corte Constitucional: el caso del salario mínimo
AbstractIn 1999 the Colombian Constitutional Court ruled that annual minimum wage increases should not be lower than the inflation of the previous year. This article explores the impact of this decision on the effectiveness of monetary policy, and shows that the obligation to adjust the salary to past inflation leads monetary policy to have more effect on real activity and generates more persistent inflation.
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Bibliographic InfoArticle provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.
Volume (Year): 8 (2006)
Issue (Month): 14 (January-June)
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More information through EDIRC
monetary policy; Constitutional Court; minimum salary; inflation;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
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