Commodity price shocks and inflation within an optimal monetary policy framework : the case of Colombia

Borradores de Economia
Number: 
858
Published: 
Classification JEL: 
E43, E58
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
Download document

The most recent

Fiscal Impact of Demographic Change on Education in Colombia
Olga Lucia Acosta Navarro, Andrés Felipe Chitán-Caes, Ana María Iregui-Bohórquez, Ligia Alba Melo-Becerra, María Teresa Ramírez-Giraldo, Jorge Leonardo Rodríguez Arenas
Regional Unconditional Transfers: The Case of Riverside Regions in a Developing Country
Bernardo Romero-Torres, Gerson Javier Pérez-Valbuena, Andrés Felipe García-Suaza, Jaime Alfredo Bonet-Moron
The Effectiveness of Natural Resources Funds: Evidence from Colombia
Alejandro Ome, Laura Giles Álvarez, Gerson Javier Pérez-Valbuena, Cristhian Larrahondo

A small open macroeconomic model, in which an optimal interest rate rule emerges to drive the inflation behavior, is used to model inflation within an inflation targeting framework. This set up is used to estimate the relationship between commodity prices