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Galvis Ciro, J. C., & Anzoátegui Zapata, J. C. (2022). Efectos de la comunicación del banco central sobre el desacuerdo en las expectativas de la tasa de política monetaria: evidencias para Colombia. Revista Finanzas Y Política Económica, 14(2). Recuperado a partir de https://revfinypolecon.ucatolica.edu.co/article/view/4418
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Resumen

El objetivo de este trabajo es investigar los efectos de la comunicación del banco central en la formación del pronóstico de la tasa de interés de política monetaria. Para ello, es utilizado como estudio de caso la economía colombiana para el período 2014-2020. La metodología empleada consiste en evaluar los efectos de la información suministrada en las minutas, el volumen de noticas y las publicaciones del banco central sobre los desacuerdos en las expectativas del mercado financiero con respecto a los movimientos futuros de la tasa de interés. Por medio de regresiones econométricas, se encuentra que las decisiones de política que se realizan en consenso, así como los mayores esfuerzos en la redacción de las minutas, tienen la capacidad de reducir la incertidumbre entre los agentes. En consecuencia, la principal recomendación de política apunta a que el Banco Central de Colombia debería realizar mayores esfuerzos en la redacción de las minutas y explicar de forma más detallada las discrepancias entre los directores.

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