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La Meta Del Banco Central Y La Persistencia De La Inflación En Colombia

  • Juan José Echavarría

    ()

  • Norberto Rodríguez

    ()

  • Luis Eduardo Rojas

    ()

En este documento se estima un modelo economé¬trico que descompone la serie de inflación trimestral anualizada entre un componente transitorio y otro permanente; este último inducido probablemente por las variaciones en la meta del Banco Central. Se concluye que la persistencia inflacionaria se elevó en Colombia entre 1979-1989 y 1989-1999, y se redujo a sus menores niveles en 1999-2010, gracias a la adopción del régimen de inflación objetivo. También se concluye que la brecha de la inflación presenta baja persistencia, un resultado consistente con la curva de Phillips Neo-Keynesiana. La parte final del documento evalúa la persistencia de los diferentes componentes de la inflación utilizados por el Banco de la República en sus pronósticos.

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File URL: http://www.banrep.gov.co/sites/default/files/publicaciones/archivos/espe_art5_65.pdf
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Article provided by BANCO DE LA REPÚBLICA - ESPE in its journal ENSAYOS SOBRE POLÍTICA ECONÓMICA.

Volume (Year): (2011)
Issue (Month): (May)
Pages:

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Handle: RePEc:col:000107:009974
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  1. Andrew Atkeson & Lee E. Ohanian., 2001. "Are Phillips curves useful for forecasting inflation?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 2-11.
  2. Filippo Altissimo & Michael Ehrmann & Frank Smets, 2006. "Inflation persistence and price-setting behaviour in the euro area – a summary of the IPN evidence," Occasional Paper Series 46, European Central Bank.
  3. Benati, Luca, 2008. "Investigating inflation persistence across monetary regimes," Working Paper Series 0851, European Central Bank.
  4. Richard Clarida & Jordi Gali & Mark Gertler, 1998. "Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory," NBER Working Papers 6442, National Bureau of Economic Research, Inc.
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