Modelling the monetary policy reaction function of the Colombian Central Bank

This paper proposes a simple Ordered Probit model to analyse the monetary policy reaction function of the Colombian Central Bank. There is evidence that the reaction function is asymmetric, in the sense that the Bank increases the Bank rate when the gap between observed inflation and the inflation t...

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Detalles Bibliográficos
Autores Principales: Otero, Jesus, Ramírez Gómez, Manuel
Formato: Documento de trabajo (Working Paper)
Lenguaje:Español (Spanish)
Publicado: Universidad del Rosario 2008
Materias:
Acceso en línea:http://repository.urosario.edu.co/handle/10336/10795