Efecto de la inflación importada proveniente de los Estados Unidos sobre la tasa de cambio real en Colombia durante el período 1999 – 2014 aplicación de un modelo VAR sobre el caso colombiano 

Abstract

Inflation, considered one of the main indicators of economic welfare, is one of the elements to be taken into account when making economic policy decisions. Colombia is no exception; there are numerous studies aimed at finding the causes of price variation, in order to provide sufficient tools for decision-making and thus comply, among other things, with the constitutional mandate of the monetary authority in reference to the control of the price level within the economy to guarantee the purchasing power of the population. In Colombia, monetary policy has been very judicious in the application of instruments to control inflationary levels in the economy. Since the opening of the economy, inflation has had a particular behaviour, not only because of the growing effective demand of the economy, but also due to the effects of the globalisation process that accompanies all activities on a daily basis.