Servicios
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In recent years, the country has supplemented its shortage of savings with different sources of external funding, with foreign direct investment (FDI) being one of the most important.
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Presentación del Informe de Política Monetaria realizada en Bogotá, a cargo de José Darío Uribe.
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The Inflation Targeting Scheme in Colombia OBJECTIVES
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Foreign direct investment (FDI) becomes a major source of long-term financing in economies with technological and capital constraints. Countries with limited savings capacity or underdeveloped financial markets do not have enough resources to expand their production frontier (…
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Loans awarded by lending institutions for consumption and the purchase of housing, hereinafter referred to as bank loans, constitute the current measurement of household indebtedness. The indicator presented below expands the coverage of sources and types of financing.
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During the second semester of 2013, the international environment was characterized by the gradual recovery in the Eurozone and the U.S. economy, as well as by an upturn in the Chinese economy. Although overall uncertainty regarding the moderation of the United States monetary policy impacted the…
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The Inflation Targeting Scheme in Colombia
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During the first semester of the year, a weak global demand, a fall of export prices in some countries and a low investment dynamic led to reduced growth forecasts for most Latin American and the Caribbean economies. In contrast, the Colombian economy shows signs of soundness, and growth in 2014 is…
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Presentación del Informe de Política Monetaria realizada en Bogotá, a cargo de José Darío Uribe.
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OBJECTIVESMonetary policy in Colombia is based on inflation targeting, which is intended primarily to keep inflation low and to ensure stable growth in output near its long-term trend. Accordingly, the objectives of monetary policy combine the goal of price stability with maximum sustainable growth…
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Abstract
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The history of economic recessions has shown that every deep downturn has been accompanied by disruptions in the financial sector. Paradoxically, up until the financial world crisis of 2007–2009, little attention was given to macroeconomic and financial interdependence. In this paper, a study is…
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This paper analyses the effectiveness of official interventions of the Colombian Central Bank in the foreign exchange market over the period of June 2008–December 2013. The estimation procedure suggested by Hansen (2000) is used to estimate a threshold model for the spot exchange rate that splits…
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This paper studies the allocation of the functions and responsibilities of prudential supervision on public authorities, including the central bank. In particular, it is argued that there are interdependencies in the design of institutions; political decisions on the supervisory structure are not…
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Abstract
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Central banks in G7 countries shifted to unconventional policy measures in the aftermath of the Financial Crisis, when faced with economic slack, financial instability and fiscal trouble. This shift ended a spell of rules-based time consistent monetary policy that started in the mid-1980s. I argue…
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Presentación realizada durante el seminario de la revista Ensayos sobre Política Económica (ESPE) "Crecimiento desbalanceado, transformaciones estructurales y difusión tecnológica" del Banco de la República en el Auditorio del Museo de Arte del Banco de la República en Bogotá.
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Presented during the Seminar "Crecimiento desbalanceado, transformaciones estructurales y difusión tecnológica" of ESPE Jorunal.
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Presentación realizada durante el seminario de la revista Ensayos sobre Política Económica (ESPE) "Crecimiento desbalanceado, transformaciones estructurales y difusión tecnológica" del Banco de la República en el Auditorio del Museo de Arte del Banco de la República en Bogotá.
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Presentación realizada durante el seminario de la revista Ensayos sobre Política Económica (ESPE) "Crecimiento desbalanceado, transformaciones estructurales y difusión tecnológica" del Banco de la República en el Auditorio del Museo de Arte del Banco de la República en Bogotá.
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Presentación realizada durante el seminario de la revista Ensayos sobre Política Económica (ESPE) "Crecimiento desbalanceado, transformaciones estructurales y difusión tecnológica" del Banco de la República en el Auditorio del Museo de Arte del Banco de la República en Bogotá.
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Presentación realizada durante el seminario de la revista Ensayos sobre Política Económica (ESPE) "Crecimiento desbalanceado, transformaciones estructurales y difusión tecnológica" del Banco de la República en el Auditorio del Museo de Arte del Banco de la República en Bogotá.
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From this edition, the Financial Stability Report will have fewer pages with some changes in its structure. The purpose of this change is to present the most relevant facts of the financial system and their implications on the financial stability. This allows displaying the analysis more concisely…
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Colombian industry has stagnated in the last four years, compared to the relatively favorable performance of the country’s economy as a whole.
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The literature on the inflation targeting strategy1 highlights four channels for monetary policy pass-through: inflation expectations, the exchange rate, aggregate demand and credit. It is through these channels that changes in the central bank’s benchmark rate manage to affect…
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