Lack of credibility, inflation persistence and disinflation in Colombia

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Borradores de Economía; No. 658
Date published
2011-05-20
Date of last update
2011-05-20
Author
González-Gómez, Andrés
Hamann-Salcedo, Franz Alonso
Document language
spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
This paper measures inflation persistence in Colombia for the period 1990-2010 and estimates the implied speed at which agents learn about the central bank's inflation target. We estimate Erceg and Levin's (2003) imperfect credibility model using Bayesian
JEL Codes
C52 - Model Evaluation, Validation, and Selection
Keywords
Credibility ; Inflation ; Persistence ; Disinflation costs ; Colombia ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/5675
https://hdl.handle.net/20.500.12134/5675
https://doi.org/10.32468/be.658
https://ideas.repec.org/p/bdr/borrec/658.html
https://ideas.repec.org/p/col/000094/008737.html
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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit