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    Does independence matter? The case of the Colombian Central Bank

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    Date

    1998-08

    Author

    Cárdenas, Mauricio
    Partow, Zeinab

    URI

    http://hdl.handle.net/11445/1656
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    Abstract

    "Why has Colombia been a case of low output variability and moderate-to-high inflation? This paper argues that regardless of the institutional arrangement, monetary authorities have stabilized the business cycle, and inflation control has not been the only objective of monetary policy. The government-controlled Junta Monetria (1963-1991) often ignored the advice of the Asesores, an anti-inflation group of technocrats who had no coting powers."

    Abstract

    "Why has Colombia been a case of low output variability and moderate-to-high inflation? This paper argues that regardless of the institutional arrangement, monetary authorities have stabilized the business cycle, and inflation control has not been the only objective of monetary policy. The government-controlled Junta Monetria (1963-1991) often ignored the advice of the Asesores, an anti-inflation group of technocrats who had no coting powers."

    Palabras clave

    Política Monetaria
    Banco de la República

    JEL

    E40
    E58
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    • Macroeconomía, Política Monetaria y Fiscal [166]

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    Acerca de Fedesarrollo

    La Fundación para la Educación Superior y el Desarrollo (Fedesarrollo) es una entidad privada sin ánimo de lucro. Establecida en 1970, se dedica a la investigación en temas de política económica y social.

    Fedesarrollo

    Calle 78 Nº 9 -91, Bogotá - Colombia
    Tel (571) 325 9777, Fax (571) 325 9770
    https://www.fedesarrollo.org.co
    © 2017, Todos los derechos reservados

    Redes Sociales