• Login
    View Item 
    •   Shocker Open Access Repository Home
    • Business
    • Economics
    • ECO Faculty Scholarship
    • William Miles
    • Refereed Publications
    • View Item
    •   Shocker Open Access Repository Home
    • Business
    • Economics
    • ECO Faculty Scholarship
    • William Miles
    • Refereed Publications
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Central Bank Independence, Inflation and Uncertainty: The Case of Colombia

    Date
    2009
    Author
    Miles, William
    Metadata
    Show full item record
    Citation
    William Miles. 2009. Central bank independence, inflation and uncertainty: the case of Colombia. International Economic Journal, vol. 23:no. 1:pp 65-79
    Abstract
    Colombia undertook reform of its central bank in 1991, pushing it in the direction of greater independence. We find that this reform led to a significant decrease in the level of inflation, as well as inflation uncertainty, suggesting an increase in credibility. However, there has also been an increase in inflation persistence since reform. The lower mean but greater persistence of inflation indicates that central bank independence has shifted the Phillips curve inward but also flattened it, a result consistent with recent research for the Euro-zone and the United States. Finally, further analysis reveals that, in accordance with the Friedman-Ball hypothesis, higher inflation raises uncertainty in Colombia, but that uncertainty does not increase inflation.
    Description
    Click on the DOI link to access the article (may not be free).
    URI
    http://dx.doi.org/10.1080/10168730802696624
    http://hdl.handle.net/10057/13166
    Collections
    • Refereed Publications

    Browse

    All of Shocker Open Access RepositoryCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsBy TypeThis CollectionBy Issue DateAuthorsTitlesSubjectsBy Type

    My Account

    LoginRegister

    Statistics

    Most Popular ItemsStatistics by CountryMost Popular Authors

    DSpace software copyright © 2002-2023  DuraSpace
    DSpace Express is a service operated by 
    Atmire NV