The Central Bank in Colombia

"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 pre...

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Autores Principales: Alesina, Alberto, Carrasquilla, Alberto, Steiner, Roberto
Publicado: 2015
Materias:
Acceso en línea:http://hdl.handle.net/11445/826
id ir-11445-826
recordtype dspace
spelling ir-11445-8262017-06-17T16:58:15Z The Central Bank in Colombia Alesina, Alberto Carrasquilla, Alberto Steiner, Roberto Política Monetaria Bancos Centrales "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" "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" E50 E51 E52 E58 2015-12-18T23:52:28Z 2016-01-21T02:26:12Z 2017-04-17T20:27:42Z 2017-06-17T16:58:15Z 2015-12-18T23:52:28Z 2016-01-21T02:26:12Z 2017-04-17T20:27:42Z 2017-06-17T16:58:15Z 2000-08 http://hdl.handle.net/11445/826 Documentos de Trabajo (Working Papers). No. 13. Agosto 2000 application/pdf
institution Fedesarrollo
collection DSpace
topic Política Monetaria
Bancos Centrales
spellingShingle Política Monetaria
Bancos Centrales
Alesina, Alberto
Carrasquilla, Alberto
Steiner, Roberto
The Central Bank in Colombia
description "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"
author Alesina, Alberto
Carrasquilla, Alberto
Steiner, Roberto
author_facet Alesina, Alberto
Carrasquilla, Alberto
Steiner, Roberto
author_sort Alesina, Alberto
title The Central Bank in Colombia
title_short The Central Bank in Colombia
title_full The Central Bank in Colombia
title_fullStr The Central Bank in Colombia
title_full_unstemmed The Central Bank in Colombia
title_sort central bank in colombia
publishDate 2015
url http://hdl.handle.net/11445/826
_version_ 1626721209587597312
score 10,182179