dc.coverage.sucursal	Bogotá	spa
dc.creator	Florez-Jimenez, Maria Lucia
dc.creator	Parra-Polanía, Julián Andrés
dc.creator.firma	Julian A. Parra-Polania	spa
dc.date.accessioned	2014-03-03T08:30:10Z	eng
dc.date.available	2014-03-03T08:30:10Z
dc.date.created	2014-03-03
dc.date.issued	2014-03-03
dc.description.abstract	Using a three-equation New Keynesian model we find that incorporating an escape clause (EC) into Forward Guidance (FG) is welfare improving as it allows the monetary authority to avoid cases in which the cost of reduced flexibility is too high. The EC pro	eng
dc.format.mimetype	PDF	spa
dc.identifier.handle	https://hdl.handle.net/20.500.12134/6097	spa
dc.identifier.uri	https://repositorio.banrep.gov.co/handle/20.500.12134/6097
dc.language.iso	spa	spa
dc.publisher	Banco de la República	spa
dc.relation.doi	https://doi.org/10.32468/be.811	spa
dc.relation.ispartof	Documentos de Trabajo	spa
dc.relation.ispartofseries	Borradores de Economía	spa
dc.relation.isversionof	Borradores de Economía; No. 811
dc.relation.number	Borrador 811	spa
dc.relation.repec	https://ideas.repec.org/p/bdr/borrec/811.html	spa
dc.rights.accessRights	Open Access	eng
dc.rights.cc	Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0	eng
dc.rights.disclaimer	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.	spa
dc.rights.spa	Acceso abierto	spa
dc.rights.uri	https://creativecommons.org/licenses/by-nc-sa/4.0/	eng
dc.source.handleRepec	RePEc:bdr:borrec:811	spa
dc.subject.jel	E47 - Money and Interest Rates: Forecasting and Simulation: Models and Application	eng
dc.subject.jel	E58 - Central Banks and Their Policies	eng
dc.subject.jel	E52 - Monetary Policy	eng
dc.subject.jelspa	E58 - Bancos centrales y sus políticas	spa
dc.subject.jelspa	E47 - Dinero y tipos de interés: Predicción y simulación; Modelos y aplicación	spa
dc.subject.jelspa	E52 - Política monetaria	spa
dc.subject.keyword	Forward guidance	eng
dc.subject.keyword	Escape clause	eng
dc.subject.keyword	Zero lower bound	eng
dc.subject.keyword	Central bank communication	eng
dc.subject.lemb	Comunicación bancaria	spa
dc.subject.lemb	Economía neokeynesiana	spa
dc.subject.lemb	Política monetaria	spa
dc.title	Forward guidance with an escape clause : when half a promise is better than a full one	spa
dc.type	Working Paper	eng
dc.type.hasversion	Published Version	eng
dc.type.spa	Documentos de trabajo	spa

Forward guidance with an escape clause : when half a promise is better than a full one

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