Bogotá, Colombia

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Impact of International Migration on Household Behavior in Nicaragua

Improving the Measurement of Core Inflation in Colombia Using Asymmetric Trimmed Means

The study evaluates the virtues of asymmetric trimmed means as efficient estimators of inflation for Colombia, an economy with high and variable inflation rates. Results suggest that the proposed indicators are more efficient than alternative indexes and are particularly suited for environments...

Individually-Rational Collective Choice under Random Preferences

In this paper I consider the following problem: there is a collection of exogenously given socially feasible sets, and for each one of them, each one of a group of individuals chooses from an individually feasible set. The fact that the product of the individually feasible sets is larger than...


Inflation Report - December 2009

Inflation Report - December 2010

In 2010, the annual CPI variation was 3.17%, this figure being close to the midpoint of the inflation target range (between 2% and 4%) fixed for this year by the JDBR, the Board of Directors of Banco de la Republica, the Central Bank of Colombia.

In the past quarter, the so-called “La...

Inflation Report - December 2012

At the end of 2012 annual inflation stood at 2.4%, lower than the long-term target (3%) and within the year’s target range (2%-4%) (Graph A). Fourth-quarter inflation results were lower than average market expectations and also below the rates expected by Banco de la República’s technical staff...

Inflation Report - December 2013

Global economy continued to recover in the fourth quarter of 2013, thanks to the added momentum in the developed economies, especially the United States. In the euro area, the economic indicators pointed to low, but positive economic growth. Growth in the major emerging countries of Asia and...

Inflation Report - June 2010

Inflation Report - June 2012

In June 2012 annual inflation stood at 3.2%, down by 20 basis points (bp) from the figure of March, resuming its downtrend after remaining relatively stable in April and May.

From March to June, year-on-year change in the consumer price index (CPI) for food fell from 4.6% to 4.2%,...

Inflation Report - June 2013

External demand during the first half of 2013 was somewhat weaker than expected. In the United States, our largest trading partner, the increase in private spending is being offset partly by fiscal consolidation, which has led to a slight decline in the forecast for that country’s growth. The...

Inflation Report - March 2009

Inflation Report - March 2010

Inflation Report - March 2012

In March 2012, annual inflation was 3.4%. This is 15 basis points (bp) less than the rate recorded in December (Graph A). A decreasing trend in annual inflation started in October, when inflation reached its highest level in 2011 (4.0%).

Inflation Report - September 2006

Inflation Report - September 2012

In September 2012 annual change in the consumer price index (CPI), core inflation measures, expectations at different horizons and inflation forecast for December stood around the mid-point of the target range (3%).

At the end of the third quarter annual inflation stood at 3.08%, down by...

Inflation Report - September 2013

Inflation Targeting in Latin America: Toward a Monetary Union?

Inflation targeting, macroeconomic modeling, and forecasting.

Lunes 14 de enero 9:00 - 10:30 AM.
Lavan Mahadeva - Bank of England

Inflation Targeting, Sudden Stops and the Cost of Fear of Floating

Sudden stops seem to create the perfect environment for disinflation, especially when central banks defend the exchange rate by increasing interest rates. We propose a variation of the output gap model that incorporates the sudden stop shock. The use of the model in policy analysis shows that...