The intervention interest rate and its effect on inflation in colombia 2002-2016

This paper aims to find empirical evidence to analyze the effect on inflation of the use of the intervention interest rate to achieve the inflation target; in the first place an analysis is presented around the key variables that determine inflation; secondly, the main features of an objective infla...

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Detalles Bibliográficos
Autores Principales: Cárdenas Pinzón, Johanna Inés, Vallejo Zamudio, Luis Eudoro, Fuentes López, Héctor Javier
Formato: Desconocido (Unknown)
Lenguaje:Español (Spanish)
Español (Spanish)
Publicado: Universidad Libre Sede Cartagena 2018
Materias:
Descripción
Sumario:This paper aims to find empirical evidence to analyze the effect on inflation of the use of the intervention interest rate to achieve the inflation target; in the first place an analysis is presented around the key variables that determine inflation; secondly, the main features of an objective inflation scheme, the inflation results and the decisions taken by the Banco de la Republica regarding the intervention interest rate are presented; Finally, we present the results obtained by means of a Structural Autoregressive Vectors (SVAR) model, which demonstrates, in the three models specified, the relationship between the inflation rate and the intervention interest rate since the signs thrown were as expected.