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Nivel de reservas internacionales y riesgo cambiario en Colombia

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Author Info
David Fernando López Angarita () (FiduPrevisora S. A.)
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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Publisher 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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Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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