Inflation Targeting in Colombia, 2002-2012

Borradores de Economia
Number: 
818
Published: 
Classification JEL: 
E02, E32, E42, E43, E52, E58, E61, F31, F33, F42
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal