La cojera de la política monetaria
The lamaness of monetary policyn
Keywords:
Política monetaria, postulados ortodoxos, variables, Tobin, mecanismos de trasmisión, productividad del capital, tasa de interés, inflación, rentabilidad (es)Downloads
the Banco de la República conceive the 'monetary rule'. By trying to faithfully follow the most orthodox postulates of the 'rule', the Board of Directors has not been con cerned with studying the way in which monetary policy affects real variables. The monetary authority has not incorporated measures, such as Tobin's q, which would allow it to understand how the transmission mechanisms of monetary policy interact.
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