Exchange rate dynamics, structural breaks, and central bank interventions in Colombia
| dc.citation.epage | 44 | |
| dc.citation.issue | 41 | |
| dc.citation.journalAbbreviatedTitle | ecos.econ. | eng |
| dc.citation.journalTitle | Ecos de Economía: A Latin American Journal of Applied Economics | eng |
| dc.citation.spage | 24 | |
| dc.citation.volume | 19 | |
| dc.contributor.author | Uribe, Jorge Mario | spa |
| dc.contributor.author | Restrepo López, Natalia | spa |
| dc.date | 2015-12-01 | |
| dc.date.accessioned | 2016-09-15T13:18:04Z | |
| dc.date.available | 2016-09-15T13:18:04Z | |
| dc.date.issued | 2015-12-01 | |
| dc.description | We evaluate the effectiveness of the Colombian Central Bank´s interventions in the foreign exchange market during the period 2000 to 2014 -- We examine the stochastic process that describes the exchange rate, with a focus on the detection of structural breaks or unit roots in the data to determine whether the Central Bank´s interventions were effective -- We find that the exchange rate can be described either by a random walk or by a trend-stationary model with multiple breaks -- In neither cases do we find any evidence that the exchange rate was affected by the Central Bank interventions | |
| dc.description | En este documento se explora el comportamiento reciente del tipo de cambio en Colombia durante el periodo 2000-2014 -- Se identifican algunas de las características del proceso estocástico que lo describe, haciendo énfasis en la detección de quiebres estructurales o raíces unitarias -- Una vez detectados los quiebres estructurales en el tipo de cambio, se evalúa la coincidencia de estos con las intervenciones del banco central en el mercado cambiario -- Los resultados señalan que el tipo de cambio puede ser descrito por una caminata aleatoria o por una serie sujeta a múltiples quiebres -- En ninguno de los casos se puede atribuir la dinámica a las intervenciones del banco central | |
| dc.format | application/pdf | |
| dc.format | text/html | |
| dc.identifier.doi | 10.17230/ecos.2015.41.2 | |
| dc.identifier.issn | 1657-4206 | |
| dc.identifier.uri | http://hdl.handle.net/10784/9167 | |
| dc.language.iso | eng | spa |
| dc.publisher | Universidad EAFIT | spa |
| dc.relation.ispartof | Ecos de Economía: A Latin American Journal of Applied Economics; Vol 19, No 41 (2015) | eng |
| dc.relation.isversionof | http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3345 | |
| dc.relation.uri | http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3345 | |
| dc.rights | Copyright (c) 2015 Jorge Mario Uribe, Natalia Restrepo López | eng |
| dc.rights.accessrights | info:eu-repo/semantics/openAccess | eng |
| dc.rights.local | Acceso abierto | spa |
| dc.source | instname:Universidad EAFIT | |
| dc.source | reponame:Repositorio Institucional Universidad EAFIT | |
| dc.source | Ecos de Economía: A Latin American Journal of Applied Economics; Vol 19, No 41 (2015) | eng |
| dc.subject | C22 | |
| dc.subject | G15 | |
| dc.subject | G28 | |
| dc.subject | G18 | |
| dc.subject | Martigala | |
| dc.subject | Política monetaria - Historia - Colombia | |
| dc.subject.keyword | Banks and banking, central | |
| dc.subject.keyword | Foreign exchange | |
| dc.subject.keyword | Econometric models | |
| dc.subject.keyword | Monetary systems | |
| dc.subject.lemb | BANCOS CENTRALES | |
| dc.subject.lemb | CAMBIO EXTERIOR | |
| dc.subject.lemb | MODELOS ECONOMÉTRICOS | |
| dc.subject.lemb | SISTEMAS MONETARIOS | |
| dc.title | Exchange rate dynamics, structural breaks, and central bank interventions in Colombia | eng |
| dc.title | Dinámica del tipo de cambio, quiebre estructural e intervenciones de política en Colombia | spa |
| dc.type | info:eu-repo/semantics/article | eng |
| dc.type | info:eu-repo/semantics/publishedVersion | eng |
| dc.type | article | eng |
| dc.type | publishedVersion | eng |
| dc.type.local | Artículo | spa |