Hernando Vargas-Herrera
Biographic Data
| ID | 4166807 |
|---|---|
| NAME | Hernando Vargas-Herrera |
| GIVEN NAMES | Hernando |
| FAMILY NAME | Vargas-Herrera |
| SIGNATURE | VARGAS-HERRERA H |
| AFFILIATIONS | Banco de la República Colombia |
| ORCID | 0000-0001-6634-4736 |
| VERIFIED | Yes |
| TOTAL WORKS | 3 |
| TOTAL CITATIONS | 1 |
| WORKS AS AUTHOR | 3 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2010 |
| LATEST PUBLICATION YEAR | 2013 |
| H-INDEX | 1 |
El uso de encajes en un marco de política monetaria óptima
We analyse three models to determine the conditions under which reserve requirements are used as a part of an optimal monetary policy framework in an inflation targeting regime. In all cases the Central Bank (CB) minimizes an objective function that depends on deviations of inflation from its target, the output gap and deviations of reserve requirements from its optimal long term level. In a closed economy model we find that optimal monetary poli…
Fiscal Policy Restrictions on Inflation Targeting
Fiscal policy may impose restrictions on Inflation Targeting when Central Bank Independence (CBI) is institutionally weak and society has a real exchange rate target that is highly valued. In this environment, fiscal policy constrains the decisions of a committed, independent Central Bank (CB) regarding inflation. When such a pressure is strong enough to threaten cbi, monetary authorities react by setting an inflation target that differs from the…
Efectos de la política monetaria sobre las tasas de interés de los créditos hipotecarios en Colombia
This article presents a quantitative analysis of the impact central bank monetary policy on interest rates of mortgage loans, both long and short term. First, the econometric results confirm the existence of a cointegrating relationship, as found before by Galindo and Hofstetter (2008) between the interest rate mortgage loans (TICH) and yields central bank public debt securities (TES). Unlike this study, we conclude that in the long term the rela…
Efectos de la política monetaria sobre las tasas de interés de los créditos hipotecarios en Colombia
This article presents a quantitative analysis of the impact central bank monetary policy on interest rates of mortgage loans, both long and short term. First, the econometric results confirm the existence of a cointegrating relationship, as found before by Galindo and Hofstetter (2008) between the interest rate mortgage loans (TICH) and yields central bank public debt securities (TES). Unlike this study, we conclude that in the long term the rela…
Fiscal Policy Restrictions on Inflation Targeting
Fiscal policy may impose restrictions on Inflation Targeting when Central Bank Independence (CBI) is institutionally weak and society has a real exchange rate target that is highly valued. In this environment, fiscal policy constrains the decisions of a committed, independent Central Bank (CB) regarding inflation. When such a pressure is strong enough to threaten cbi, monetary authorities react by setting an inflation target that differs from the…
Efectos de la política monetaria sobre las tasas de interés de los créditos hipotecarios en Colombia
This article presents a quantitative analysis of the impact central bank monetary policy on interest rates of mortgage loans, both long and short term. First, the econometric results confirm the existence of a cointegrating relationship, as found before by Galindo and Hofstetter (2008) between the interest rate mortgage loans (TICH) and yields central bank public debt securities (TES). Unlike this study, we conclude that in the long term the rela…
El uso de encajes en un marco de política monetaria óptima
We analyse three models to determine the conditions under which reserve requirements are used as a part of an optimal monetary policy framework in an inflation targeting regime. In all cases the Central Bank (CB) minimizes an objective function that depends on deviations of inflation from its target, the output gap and deviations of reserve requirements from its optimal long term level. In a closed economy model we find that optimal monetary poli…
Monetary Policy and Economic Impact (3 works) · Economic Theory and Policy (2 works) · Economics (2 works) · Fiscal Policies and Political Economy (2 works) · Global Financial Crisis and Policies (2 works) · Humanities (2 works) · Philosophy (2 works) · Philosophy (2 works) · Political science (2 works) · Central bank (1 work)