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Nivel de reservas internacionales y riesgo cambiario en Colombia

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  • David Fernando López Angarita

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    (FiduPrevisora S. A.)

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    Abstract

    The optimal reserve level theory aims to protect the economy against external shocks to its balance of payments, providing the international liquidity needed in emergency situations. The methodological applications available have limitations that compromise the results of the analysis of the optimal level in Colombia. This article offers an alternative approach to optimal international reserves and a consistent methodological framework to overcome these limitations and add trust to the monetary authorities and international agents.

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/dlopez15.pdf
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    Bibliographic Info

    Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

    Volume (Year): 8 (2006)
    Issue (Month): 15 (July-December)
    Pages: 117-159

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    Handle: RePEc:rei:ecoins:v:8:y:2006:i:15:p:117-159

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    Related research

    Keywords: international reserves; exchange risk; external shocks; international liquidity;

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