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Pandemia y política económica: la política monetaria en discusión.
- Source :
-
Revista de Economía Institucional . ene-jun2022, Vol. 24 Issue 46, p167-193. 27p. - Publication Year :
- 2022
-
Abstract
- This paper explores the credibility of monetary policy in Colombia and its evolution after the adoption of the inflation targeting system. To do so, a non-linear Phillips curve is estimated based on unemployment for an open economy, which incorporates the direct effect of past inflation rate on price formation and a prospective component. It shows a deeper trade-off between inflation and unemployment and lower inflationary persistence. Consequently, the country could emphasize the greater responsibility of the central bank in economic growth and employment. [ABSTRACT FROM AUTHOR]
Details
- Language :
- Spanish
- ISSN :
- 01245996
- Volume :
- 24
- Issue :
- 46
- Database :
- Academic Search Index
- Journal :
- Revista de Economía Institucional
- Publication Type :
- Academic Journal
- Accession number :
- 154286209
- Full Text :
- https://doi.org/10.18601/01245996.v24n46.09