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    The Central Bank in Colombia

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    WP_2000_No_13.pdf (The Central Bank in Colombia) (75.39Kb)
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    Fecha

    2000-08

    Autor

    Alesina, Alberto
    Carrasquilla, Alberto
    Steiner, Roberto

    URI

    http://hdl.handle.net/11445/826
    Metadatos
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    Resumen

    "In the last decade the issue of the optimal degree of central bank independence has been at the center of attention of academics and policymakers in many countries. The direction of institutional reform has almost universally been toward making central banks more independent from political pressure. The motivation of this move is linked to an increased emphasis on price stability as the main or only goal of monetary policy after two decades of exceptionally high inflation rates. Colombia has made an effort in reforming a complex set of monetary institutions, which for over two decades delivered a persistent, moderate rate of inflation. The central bank reform -along with the elimination of many indexation practices, the liberalization of financial activity and the reduction of trade and capital account barriers- delivered substantial progress. This paper argues that a reduced set of "second generation" reforms aimed at correcting limitations that were maintained may further deepen these accomplishm"

    Abstract

    "In the last decade the issue of the optimal degree of central bank independence has been at the center of attention of academics and policymakers in many countries. The direction of institutional reform has almost universally been toward making central banks more independent from political pressure. The motivation of this move is linked to an increased emphasis on price stability as the main or only goal of monetary policy after two decades of exceptionally high inflation rates. Colombia has made an effort in reforming a complex set of monetary institutions, which for over two decades delivered a persistent, moderate rate of inflation. The central bank reform -along with the elimination of many indexation practices, the liberalization of financial activity and the reduction of trade and capital account barriers- delivered substantial progress. This paper argues that a reduced set of ""second generation"" reforms aimed at correcting limitations that were maintained may further deepen these accomplishm"

    Serie

    Documentos de Trabajo (Working Papers). No. 13. Agosto 2000

    Palabras clave

    Política Monetaria
    Bancos Centrales

    JEL

    E50
    E51
    E52
    E58
    Colecciones
    • Documentos de Trabajo (Working Papers) [79]

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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