<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0121-4772</journal-id>
<journal-title><![CDATA[Cuadernos de Economía]]></journal-title>
<abbrev-journal-title><![CDATA[Cuad. Econ.]]></abbrev-journal-title>
<issn>0121-4772</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0121-47722019000200337</article-id>
<article-id pub-id-type="doi">10.15446/cuad.econ.v38n77.64706</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[EFECTOS DE LA COMUNICACIÓN DEL BANCO CENTRAL SOBRE LOS TÍTULOS PÚBLICOS: EVIDENCIA EMPÍRICA PARA COLOMBIA]]></article-title>
<article-title xml:lang="en"><![CDATA[The effects of central bank communication on public debt securities: Empirical evidence for Colombia]]></article-title>
<article-title xml:lang="fr"><![CDATA[Effets de la communication de la banque centrale sur les titres publics: évidence empirique pour la Colombie]]></article-title>
<article-title xml:lang="pt"><![CDATA[Efeitos da comunicação do banco central sobre os títulos públicos: evidência empírica para Colômbia]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Anzoátegui Zapata]]></surname>
<given-names><![CDATA[Juan Camilo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Galvis Ciro]]></surname>
<given-names><![CDATA[Juan Camilo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma Latinoamericana  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Pontificia Bolivariana  ]]></institution>
<addr-line><![CDATA[Medellín ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<volume>38</volume>
<numero>77</numero>
<fpage>337</fpage>
<lpage>364</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0121-47722019000200337&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0121-47722019000200337&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0121-47722019000200337&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN Este artículo examina los efectos de la comunicación del banco central sobre los títulos de deuda pública para una economía emergente. Se toma como estudio de caso la economía colombiana con datos referentes al periodo de 2008 a 2016 y se analizan los comunicados de prensa, las minutas y los reportes de inflación. Los hallazgos indican que la comunicación tiene efectos importantes sobre el nivel de los retornos de los títulos de deuda pública al día siguiente de los anuncios del banco central, y el efecto es mayor para las minutas de política monetaria. JEL: E52, E58, E63.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT 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.]]></p></abstract>
<abstract abstract-type="short" xml:lang="fr"><p><![CDATA[RÉSUMÉ Cet article étudie les effets de la communication de la banque centrale sur les titres de dette publique pour une économie émergente. Nous prenons pour étude de cas l'économie colombienne avec des données relatives à la période 2008 - 2016 et nous analysons les communiqués de presse, les minutes et les rapports d'inflation. Les résultats indiquent que la communication a des effets importants sur le niveau des retours des titres de dette publique le jour qui suit les annonces de la banque centrale, et l'effet est plus important pour les minutes de politique monétaire. JEL: E52, E58, E63.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[RESUMO Este artigo examina os efeitos da comunicação do banco central sobre os títulos de dívida pública para uma economia emergente. É tomada como estudo de caso a economia colombiana com dados referentes ao período de 2008 a 2016 e são analisados os comunicados de imprensa, as minutas e os relatórios de inflação. As descobertas indicam que a comunicação tem efeitos importantes sobre o nível dos retornos dos títulos de dívida pública no dia seguinte aos anúncios do banco central, e o efeito é maior para as minutas de política monetária. JEL: E52, E58, E63.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[comunicación del banco central]]></kwd>
<kwd lng="es"><![CDATA[política monetaria]]></kwd>
<kwd lng="es"><![CDATA[deuda pública]]></kwd>
<kwd lng="en"><![CDATA[Central bank communication]]></kwd>
<kwd lng="en"><![CDATA[monetary policy]]></kwd>
<kwd lng="en"><![CDATA[public debt]]></kwd>
<kwd lng="fr"><![CDATA[communication de la banque centrale]]></kwd>
<kwd lng="fr"><![CDATA[politique monétaire]]></kwd>
<kwd lng="fr"><![CDATA[dette publique]]></kwd>
<kwd lng="pt"><![CDATA[comunicação do banco central]]></kwd>
<kwd lng="pt"><![CDATA[política monetária]]></kwd>
<kwd lng="pt"><![CDATA[dívida pública]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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