%0 Journal Article
%T La meta del Banco Central y la persistencia de la inflaci¨®n en Colombia
%A Echavarr¨ªa
%A Juan Jos¨¦
%A Rodr¨ªguez
%A Norberto
%A Rojas
%A Luis Eduardo
%J Ensayos sobre POL¨ªTICA ECON¨®MICA
%D 2011
%I Scientific Electronic Library Online
%X in this document we estimate an econometric model which describes quarterly inflation by an unobserved component trend-cycle model, where the trend is probably induced by the target of the central bank. it shows that inflation persistencerose in colombia between 1979-1989 and 1989-1999, and decreased to its lowest level in 1999-2010, thanks to the adoption of inflation targeting. the inflation gap shows low persistence, a result compatible with the neo-keynesian phillips curve. the final part of the document evaluates inflation persistence for the different components of inflation used by the central bank to project inflation.
%K inflation
%K inflation persistence
%K regime change models
%K central bank target
%K colombia.
%U http://www.scielo.org.co/scielo.php?script=sci_abstract&pid=S0120-44832011000200006&lng=en&nrm=iso&tlng=en