Aspectos de Política Monetaria en Colombia: un Debate entre las Reglas y la Discrecionalidad Aspectos de Política Monetaria en Colombia: un Debate entre las Reglas y la Discrecionalidad

Abstract

Credibility in the monetary authority of each country is
determined by issues related to the management of its policy,
such as the choice between a rule approach and a discretion
approach. This article provides arguments supporting
each approach, as well as some aspects to consider in the
employment of the rules or discretion for the management of
monetary policy in Colombia. In addition, the inflation rate
control is emphasized because of its importance in the future
credibility of the monetary authority, in order to make with
discretion the corresponding decisions.