Usted está aquí

Back to top

Lack of Credibility, Inflation Persistence and Disinflation in Colombia

Andrés
González
Franz Alonso
Hamann-Salcedo
Domingo, 1 Mayo 2011

This paper measures inflation persistence in Colombia for the period 1990-2010 and estimates the implied speed at which agents learn about the central bank's inflation target. We estimate Erceg and Levin's (2003) imperfect credibility model using Bayesian