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Política Monetaria Y Paridad De Intereses En Colombia, 1990 - 2007: Un Ejercicio

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  • Elizabeth Aponte Jaramillo

Abstract

Este documento describe la política monetaria aplicada en Colombia durante el período 1990-2007 antes de la crisis financiera mundial del presente siglo y analiza la incidencia que tuvo el resultado de dicha política sobre la tasa de paridad de intereses. Para probar la hipótesis de paridad de intereses se plantea un modelo de cointegración. Desde 1991 el Banco de la República es independiente. La política monetaria se ha focalizado hacia el control de la inflación y a partir de 1999 el sistema del tipo de cambio es flexible. Los resultados muestran que entre 1990 y 2007 Colombia redujo la tasa de inflación de manera considerable (de dos dígitos a uno) y disminuyó el diferencial de intereses, pero no existeevidencia sobre el cumplimiento de la paridad de intereses.

Suggested Citation

  • Elizabeth Aponte Jaramillo, 2011. "Política Monetaria Y Paridad De Intereses En Colombia, 1990 - 2007: Un Ejercicio," Revista de Economía y Administración, Universidad Autónoma de Occidente, December.
    • Handle: RePEc:col:000156:009833
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    More about this item

    Keywords

    Monetary policy; economic stabilization; interest parity.// Política monetaria; estabilización económica; paridad de intereses.;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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