Empirical analysis on the real effects of inflation and exchange rate uncertainty: The case of Colombia

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dc.citation.epage28
dc.citation.issue20
dc.citation.journalAbbreviatedTitleEcos de Economíaeng
dc.citation.journalTitleEcos de Economia: A Latin American journal of applied economicseng
dc.citation.spage7
dc.citation.volume9
dc.contributor.affiliationWestern Michigan Universityspa
dc.contributor.authorRuiz, Isabel Cristinaspa
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.date10/04/2005
dc.date.accessioned2020-01-31T18:42:52Z
dc.date.available2020-01-31T18:42:52Z
dc.date.issued10/04/2005
dc.descriptionThis paper re-examines the effects of inflation and exchange rate uncertainty on real economic activity. The existent literatura has treated both issues as separate subject matters. It has emphasized either the issue of inflation uncertainty or exchange rate uncertainty on economic growth or on different measures of economic activity. This paper attempts dealing with both issues by analyzing the magnitudes and direction of the effect of both: inflation and exchange rate uncertainty on real economic activity. By introducing dummy variables, we control for monetary policy change (the change to inflation targeting and flexible exchange rate). By using a generalized autoregressive conditional variance (GARCH) model of inflation and exchange rates, the conditional variances of the model’s forecast errors were extracted as measures of uncertainty. The results suggest that higher levels of inflation Granger cause more uncertainty and viceversa for the Colombian economy. Also, only inflation uncertainty matters for output by exerting a negative influenceeng
dc.formatapplication/pdf
dc.identifier.issn2462-8107
dc.identifier.issn1657-4272
dc.identifier.urihttp://hdl.handle.net/10784/15576
dc.language.isospa
dc.publisherUniversidad EAFITspa
dc.relation.ispartofEcos de Economía, Vol 9, No 20 (2005)
dc.relation.isversionofhttp://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/1972/1981
dc.relation.urihttp://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/1972/1981
dc.rightsCopyright (c) 2005 Isabel Cristina Ruizeng
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.sourceinstname:Universidad EAFIT
dc.sourcereponame:Repositorio Institucional Universidad EAFIT
dc.sourceEcos de Economía, Vol 9, No 20 (2005)spa
dc.subjectE52
dc.subjectE65
dc.subjectF41
dc.subjectD81
dc.subject.keywordInflation Targetingeng
dc.subject.keywordInflation Uncertaintyeng
dc.subject.keywordExchange Rateeng
dc.subject.keywordUncertaintyeng
dc.subject.keywordGARCH modelseng
dc.subject.keywordGranger causalityeng
dc.titleEmpirical analysis on the real effects of inflation and exchange rate uncertainty: The case of Colombiaeng
dc.typearticleeng
dc.typeinfo:eu-repo/semantics/articleeng
dc.typepublishedVersioneng
dc.typeinfo:eu-repo/semantics/publishedVersioneng
dc.type.localArtículospa

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Ecos de Economía, Vol. 09, No. 20 (2005)
Vol 09, No 20 (2005)