Central Bank Independence and Fiscal Rules in the Periphery (opens in new tab)

Reading Keynes in Buenos AiresThis week I participated (virtually) in a conference in Colombia organized by the finance ministry, alongside a remarkable group of participants, including Rafael Correa, Isabella Weber, and Daniela Gabor. The focus of the discussion was the ongoing dispute between the government of Gustavo Petro and the Colombian central bank over the persistence of relatively high interest rates, and the broader question of central bank independence.None of this, of course, is ...