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¿Qué Tan Grande Es El Desequilibrio Cambiario En Colombia?

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  • SANTIAGO HERRERA AGUILERA

Abstract

Para responder el interrogatorio planteado en el título del trabajo se descompusieron las series de acumulación de reservas internacionales y de la tasa de cambio real efectiva en sus partes cíclica y de largo plazo, y se interpretó el segundo componente como el de equilibrio. Al comparar los datos efectivamente observados con sus respectivos niveles de equilibrio, se obtuvo que en 1990 y 1991 se presenta una acumulación excesiva de reservas en montos equivalentes al 1.0% y 4% del PIB, respectivamente.

Suggested Citation

  • Santiago Herrera Aguilera, 1991. "¿Qué Tan Grande Es El Desequilibrio Cambiario En Colombia?," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 10(20), pages 145-174, December.
  • Handle: RePEc:col:000107:005316
    DOI: 10.32468/Espe.2005
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    Cited by:

    1. Guillermo Calvo & Carmen Reinhart & Carlos Végh, 1994. "La tasa de cambio real como meta de política: teoría y evidencia," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 13(25), pages 7-50, June.
    2. Calvo, Guillermo A. & Reinhart, Carmen M. & Vegh, Carlos A., 1995. "Targeting the real exchange rate: theory and evidence," Journal of Development Economics, Elsevier, vol. 47(1), pages 97-133, June.
    3. Isidro Hernández Rodríguez, 2015. "Economía política de la tributación en Colombia," Books, Universidad Externado de Colombia, Facultad de Economía, edition 1, number 70, August.

    More about this item

    Keywords

    RESERVAS INTERNACIONALES; TASA DE CAMBIO;

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