The Fiscal and Monetary History of Colombia: 1963-2012
by David Perez-Reyna, Daniel Osorio-Rodriguez
The objective of this paper is to characterize the joint history of monetary and fiscal policies in Colombia after 1963 following the general framework by Kehoe et al. (2013). In doing so, we aim to shed light on the general question of whether bad fiscal and monetary policies in Colombia led to macroeconomic instability, thus hampering long-term growth, as seemed to be the case in several other Latin American economies.