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La Tasa De Cambio Real De Equilibrio En Colombia Y Su Desalineamiento: Estimación A Través De Un Modelo Svec

Listed author(s):
  • JUAN JOSÉ ECHAVARRÍA SOTO

    ()

  • ENRIQUE LÓPEZ ENCISO

    ()

  • MARTHA MISAS ARANGO

    ()

En este documento se calcula la tasa de cambio real de equilibrio y su desalineamiento. Este últi-mo, entendido como la diferencia entre la tasa real de cambio observada y la tasa de equilibrio. Para llevar a cabo este ejercicio se utiliza el enfoque de tendencias comunes asociadas a un modelo VEC estructural (SVEC). El ejercicio, llevado a cabo para el período 1962-2005, indica que la tasa real de cambio ha estado sobrevaluada, principalmente en-tre 1962 y 1974, en 1983-1985 y en 1995-1997. Los resultados sugieren que la tasa de cambio real no ha estado lejos del equilibrio en los años recientes

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File URL: http://www.banrep.gov.co/sites/default/files/publicaciones/archivos/espe_057-6.pdf
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Article provided by BANCO DE LA REPÚBLICA - ESPE in its journal ENSAYOS SOBRE POLÍTICA ECONÓMICA.

Volume (Year): 26 (2008)
Issue (Month): 57 (December)
Pages: 282-319

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Handle: RePEc:col:000107:005811
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