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La inflación y el Banco Central: Economía de un emisor independiente

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  • Carlos Esteban Posada

Abstract

En este artículo formulo una relación teórica de fundamento microeconómico entre un banco privado monópolico y la tasa óptima de inflación. la relación propuesta es la base para establecer una condición suficiente para la independencia de la Banca Central. La parte central del artículo lo constituye un modelo que expone las condiciones que se requieren para igualar las tasas óptimas, social y privada, de la inflación. A pesar de la sencillez del argumento, se pueden deducir algunas proposiciones de "Economía constitucional".

Suggested Citation

  • Carlos Esteban Posada, 2002. "La inflación y el Banco Central: Economía de un emisor independiente," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID.
    • Handle: RePEc:col:000093:006850
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    File URL: http://www.fce.unal.edu.co/media/files/documentos/Cuadernos/36/v21n36_posada_2002.pdf
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    References listed on IDEAS

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    1. Andreas Freytag, 2001. "Does central bank independence reflect monetary commitment properly? Methodical considerations," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 54(217), pages 181-208.
    2. Reuben A. Kessel & Armen A. Alchian, 1962. "Effects of Inflation," Journal of Political Economy, University of Chicago Press, vol. 70(6), pages 521-521.
    3. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, December.
    4. Carlos Esteban Posada, 1998. "La Tasa De Interés: El Caso Colombiano Del Siglo Xx (1905-1997)," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 17(33), pages 5-60.
    5. Alberto Alesina & Alberto Carrasquilla & Roberto Steiner, 2000. "The Central Bank in Colombia," Working Papers Series. Documentos de Trabajo 2458, Fedesarrollo.
    6. Martha López P., 2001. "Seigniorage and the Welfare Cost of Inflation in Colombia," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 19(39), pages 115-131, June.
    7. Carlos Esteban Posada, 2000. "Señoraje, Impuesto Inflacionario y Utilidades (Brutas) del Emisor:Definiciones y Medidas del Caso Colombiano Reciente," Borradores de Economia 140, Banco de la Republica de Colombia.
    8. Carlos Esteban Posada, 2000. "Se�oraje, Impuesto Inflacionario y Utilidades (Brutas) del Emisor: Definiciones y Medidas del Caso Colombiano Reciente," Borradores de Economia 3492, Banco de la Republica.
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