Inflation Targeting in Colombia, 2002-2012

Número: 
818
Publicado: 
Clasificación JEL: 
E02, E32, E42, E43, E52, E58, E61, F31, F33, F42
Palabras clave: 
Inflation Targeting, Monetary policy, Exchange Rate, Taylor rule

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