E58

A continuación, se listan los contenidos disponibles en el portal relacionados con la consulta.

  • Beyond Bubbles: The role of asset prices in early-warning indicators

    Publicación |

    Asset prices have recently become a common topic in economic debate. Nevertheless, much time has been spent in determining if they effectively exhibit a bubble component, and not in examining whether asset prices affectively contain relevant information concerning future market developments.…

  • The Monetary Policy Rule During The Transition To A Stable Level Of Inflation: The Case Of Colombia

    Publicación |

    During the transition from a moderately high level of inflation to an internationally accepted level, the target, the inflation rate, the nominal interest rate and the nominal equilibrium interest rate may be difference stationary. Policy rules estimation, however, is usually performed under…

  • Effects of Reserve Requirements in an Inflation Targeting Regime: The Case of Colombia

    Publicación |

    The Colombian economy and financial system have coped reasonably well with the effects of the global financial crisis. Hence, “unconventional” policy measures have not been at the center of the policy decisions and discussions. Nominal short term interest rates have remained the main monetary…

  • The Stickiness of Colombian Consumer Prices

    Publicación |

    The price setting behavior of Colombian retailers of goods and services was studied based on a unique dataset containing 12,052,970 individual price reports covering all items in the Colombian CPI from March 1999 to May 2008. The main results are summarized as follows: 1. Colombian consumer…

  • A Historical Analysis of Central Bank Independence in Latin America: The Colombian Experience, 1923-2008

    Publicación |

    This paper explores the relationship between central bank independence and inflation in Latin America, using as a case study the experience of Colombia (1923-2008). Since its creation, in 1923, Colombia’s central bank has undergone several reforms that have changed its objectives and degree of…

  • Are Capital Controls and Central Bank Intervention Effective?

    Publicación |

    Capital controls and intervention in the foreign exchange market are two controversial policy options that many countries have adopted in the past in order to influence the exchange rate and moderate capital flows. Colombia has a long record in the use of these policies with mixed results and…

  • Monetary Policy and the Exchange Rate in Colombia

    Publicación |

    The role of the exchange rate and the exchange rate regime in the monetary policy decision-making process in Colombia is described. The rationale for the intervention of the Central Bank in the FX market is explained and the experience in this regard is reviewed. Special attention is given to…

  • Too-connected-to-fail Institutions and Payments System’s Stability: Assessing Challenges for Financial Authorities

    Publicación |

    The most recent episode of market turmoil exposed the limitations resulting from the traditional focus on too-big-to-fail institutions within an increasingly systemic-crisis-prone financial system, and encouraged the appearance of the too-connected-to-fail (TCTF) concept. The TCTF concept…