The Monetary Policy Rule During The Transition To A Stable Level Of Inflation: The Case Of Colombia

Borradores de Economia
Number: 
404
Published: 
Classification JEL: 
E52, E58, E43
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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During the transition from a moderately high level of inflation to an internationally accepted level, the target, the inflation rate, the nominal interest rate and the nominal equilibrium interest rate may be difference stationary. Policy rules estimation