INFLATION TARGETING AND AN OPTIMAL TAYLOR RULE FOR AN OPEN ECONOMY: EVIDENCE FOR COLOMBIA 1990-2011*
An optimal monetary policy Taylor rule is developed for an open economy, which we then estimate following a Markov regime-switching model for quarterly data from Colombia during 1990-2011. We find two opposite monetary regimes characterized by different policy rules: until October 2000 the Central B...
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| Auteurs principaux: | , , |
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| Langue: | English |
| Publié: |
Pontificia Universidad Católica de Chile. Instituto de Economía.
2014
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| Accès en ligne: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332014000100002 |
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