Abstract

ANZOATEGUI ZAPATA, Juan Camilo  and  GALVIS CIRO, Juan Camilo. The effects of central bank communication on public debt securities: Empirical evidence for Colombia. Cuad. Econ. [online]. 2019, vol.38, n.77, pp.337-364. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v38n77.64706.

This paper examines the effect of the central bank's communication on public debt for the Colombian economy with data referring to the period 2008-2016. The press releases, the minutes and the inflation reports are analyzed. The findings indicate that communication has important effects on the levels of returns of public debt securities the day after the announcements, and the effect is greater for the monetary policy minutes.

JEL: E52, E58, E63.

Keywords : Central bank communication; monetary policy; public debt.

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