2002-10-182002-10-182002-10-182002-10-18https://repositorio.banrep.gov.co/handle/20.500.12134/5239This paper studies the performance, in terms of volatility and welfare, of different monetary policy rules in an economy with two market frictions. We consider a financial friction that highlights the credit channel as the monetary transmission mechanismPDFspaOpen AccessWorking PaperE52 - Monetary PolicyE58 - Central Banks and Their PoliciesE31 - Price Level; Inflation; DeflationMonetary policyMercado laboralCiclos económicosPolítica monetariaAcceso abiertoAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0E52 - Política monetariaE58 - Bancos centrales y sus políticasE31 - Nivel de precios; Inflación; DeflaciónLas 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.https://hdl.handle.net/20.500.12134/5239