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Medidas Alternativas De Tasa De Cambio Real Para Colombia

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  • Gloria Alonso Masmela

    ()

  • Juan Nicólas Hernández

    ()

  • José David Pulido

    ()

  • Martha Lucía Villa

    ()

Abstract

En un escenario como el actual, de continua apreciación nominal del pesocolombiano frente al dólar, se hace relevante insistir en el uso de un concepto másamplio, como es la tasa de cambio real (TCR), para examinar las causas de laapreciación y evaluar la competitividad del país. Son muchos los enfoques a partirde los cuales se aborda el concepto de esta variable y por ello nació la idea delObservatorio de TCR. Su propósito esencial es centralizar y proveer las herramientasnecesarias para su análisis respondiendo a las inquietudes de los agentesinvolucrados y constituyéndose en un elemento para la toma de decisiones de políticaeconómica. En este documento se proponen medidas alternativas de fácilseguimiento para evaluar periódicamente la evolución de la TCR y se analiza deforma preliminar qué tan desalineadas están sus distintas variantes respecto de sunivel de largo plazo. Las medidas alternativas muestran tendencias similares a lasmediciones tradicionales, aunque difieren en la magnitud e interpretación del efecto.En cuanto a los determinantes del TCR a nivel global las ganancias en productividadrelativa derivan en una moneda más fuerte. La información disponible sugiere que laindustria colombiana ha incrementado su productividad, en especial si se comparacon Estados Unidos y que el nivel actual del tipo de cambio real es cercano a aquelque es consistente con el grado de desarrollo de la economía.

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Bibliographic Info

Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 004679.

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Length: 53
Date of creation: 14 May 2008
Date of revision:
Handle: RePEc:col:000094:004679

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Related research

Keywords: Índice de Tasa de Cambio; Productividad; Competitividad; Paridad de Poder deCompra; Costo Laboral Unitario; Balassa- Samuelson;

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References

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  1. G. Russell Kincaid & Martin Fetherston & Peter Isard & Hamid Faruqee, 2001. "Methodology for Current Account and Exchange Rate Assessments," IMF Occasional Papers 209, International Monetary Fund.
  2. Ronald MacDonald, 1997. "What Determines Real Exchange Rates? The Long and Short of it," IMF Working Papers 97/21, International Monetary Fund.
  3. Mohsin S. Khan & Ehsan U. Choudhri, 2004. "Real Exchange Rates in Developing Countries," IMF Working Papers 04/188, International Monetary Fund.
  4. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72, pages 584.
  5. Bruno Tissot & Les Skoczylas, 2005. "Revisiting recent productivity developments across OECD countries," BIS Working Papers 182, Bank for International Settlements.
  6. Robert J. Gordon, 2003. "Exploding Productivity Growth: Context, Causes, and Implications," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 207-298.
  7. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
  8. repec:cml:incocp:1-11 is not listed on IDEAS
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Cited by:
  1. Rafael Puyana Martínez-Villaba, . "El efecto Balassa-Samuelson en Colombia," Borradores de Economia 630, Banco de la Republica de Colombia.
  2. Rafael Puyana Martínez-Villalba, 2011. "El efecto Balassa-Samuelson en Colombia," DOCUMENTOS CEDE 007959, UNIVERSIDAD DE LOS ANDES-CEDE.
  3. Rafael Puyana, 2010. "El efecto Balassa-Samuelson en Colombia," BORRADORES DE ECONOMIA 007801, BANCO DE LA REPÚBLICA.

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