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La tasa de cambio real como meta de política: teoría y evidencia

Author

Listed:
  • Guillermo Calvo
  • Carmen Reinhart
  • Carlos V�gh

Abstract

Este trabajo presenta un análisis teórico y empírico de las políticas dirigidas a alcanzar un nivel más depreciado de la tasa de cambio real. Un modelo de optimización intertempolar sugiere que, en ausencia de cambios en la política fiscal, un nivel más depreciado de la tasa de un mayor nivel de la inflación y/o tasa real de interés, dependiendo del grado de movilidad de capital.

Suggested Citation

  • Guillermo Calvo & Carmen Reinhart & Carlos V�gh, 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.
    • Handle: RePEc:col:000107:005322
    DOI: 10.32468/Espe.2501
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    Cited by:

    1. Juan Carlos Echeverry, 1996. "The Fall in Colombian savings during the 1990s. Theory and evidence," Borradores de Economia 3593, Banco de la Republica.
    2. Juan Carlos Echeverry G., 1996. "Short Run Savings Fluctuations And Export Shocks.Theory And Evidence For Latin-America," Borradores de Economia 3498, Banco de la Republica.
    3. Carlos Esteban Posada, 1995. "El Costo de la Inflación(con Racionalidad y Previsión Perfectas)," Borradores de Economia 030, Banco de la Republica de Colombia.
    4. Carlos Esteban Posada & cposadpo@banrep.gov.co, 1995. "Ahorro y Modelos Macroeconómicos," Borradores de Economia 035, Banco de la Republica de Colombia.
    5. Carlos Esteban Posada P., 1995. "Ahorro Y Modelos Macroecon�Micos," Borradores de Economia 1956, Banco de la Republica.
    6. Carlos Esteban Posada, 1995. "EL COSTO DE INFLACI�N (Con Racionalidad y Previsi�n Perfectas)," Borradores de Economia 2477, Banco de la Republica.
    7. Álvaro Moreno, 2002. "Determinantes del tipo de cambio real en Colombia. Un modelo neokeynesiano," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 4(7), pages 40-61, July-Dece.

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    Keywords

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    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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