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Disinflation Costs Under Inflation Targeting in Small Open Economy

Paulina
Restrepo-Echavarría
Martes, 1 Marzo 2005

Since 1991, inflation in Colombia was reduced from 25% on average to about 6% more recently. Although this performance is in line with a long run inflation target of 3%, some analysts ask whether the Central Bank should continue disinflating. In this pa