La inflación objetivo y la volatilidad de la tasa representativa del mercado durante los periodos 1998-2002 y 2002-2006: evidencia empírica para Colombia

Diego Alonso Martínez Maldonado, Fabián Andrés Ramírez Roberto, Juan David Robles Rey, Juan Alejandro Figueroa Pico and Julián Andrés Buitrago Sánchez

Econógrafos, Escuela de Economía from Universidad Nacional de Colombia, FCE, CID

Abstract: One of the greatest challenges facing a Central Bank with a target inflation model is to maintain stable and low levels of the inflation rate, according to the established target ranges. However, maintaining relatively low inflation can also have an impact on other macroeconomic variables, such as exchange rate stability. This study seeks to quantify the impact of inflation control as a central bank target on the volatility of the representative market rate in Colombia for the periods 1998-2002 and 2002-2006. It is found that the inclusion of the inflation targeting monetary policy regime within the central bank's goals did not significantly affect the volatility of the representative market rate.

Keywords: Inflation; representative market rate; central bank; volatility (search for similar items in EconPapers)
JEL-codes: C22 E42 E43 E52 E58 E6 (search for similar items in EconPapers)
Pages: 22
Date: 2022-09
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Published in Econografos

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Persistent link: https://EconPapers.repec.org/RePEc:col:000176:022623

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