Borradores de Economia
Number:
240
Published:
Classification JEL:
E31
Keywords:
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
The most recent
José Vicente Romero-Chamorro, Hernando Vargas-Herrera
Juan Camilo Medellín-Martínez, Sergio Restrepo Ángel
Andrea Sofía Otero-Cortés, Karina Acosta, Jhorland Ayala-García, Oriana Álvarez Vos, Sara Rojas
In a small macroeconomic model of the Colombian economy I investigate the problem of selecting a policy rule that is consistent with inflation targeting. I spell out the characteristics of the optimal feedback and output parameters in the rule, as well as