Optimal Monetary Policy and Asset Prices: the Case of Colombia

Borradores de Economia
Number: 
583
Published: 
Classification JEL: 
E44, E52, E61
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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The unfolding of the 2007 world financial and economic crisis has highlighted the vulnerability of real economic activity to strong fluctuations in asset prices. Which is the optimal monetary policy in an economy like the Colombian that is exposed to swin