IDEAS home Printed from https://ideas.repec.org/a/lde/journl/y1999i51p7-46.html
   My bibliography  Save this article

Tasa de cambio real y consumo : teoria, evidencia y estudios del caso colombiano, 1950-1997

Author

Listed:
  • Carlos Esteban Posada

Abstract

Se presenta un modelo teórico convencional de determinación simultánea de la tasa de cambio real (el precio relativo de los bienes internacionalmente transables con respecto al de los no transables), el consumo y la posición financiera neta del país con el exterior. Con base en las predicciones teóricas se analizan las variaciones de la tasa de cambio real de Colombia entre 1950 y 1997 Y se revisa la literatura colombiana de los últimos diez años sobre el tema.

Suggested Citation

  • Carlos Esteban Posada, 1999. "Tasa de cambio real y consumo : teoria, evidencia y estudios del caso colombiano, 1950-1997," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 51, pages 7-46, Julio Dic.
    • Handle: RePEc:lde:journl:y:1999:i:51:p:7-46
    as

    Download full text from publisher

    File URL: https://revistas.udea.edu.co/index.php/lecturasdeeconomia/issue/view/513
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. 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.
    2. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, December.
    3. Adolfo Meisel R., 1994. "Como Determinar si el Peso está Sobrevaluado o Subvaluado," Borradores de Economia 006, Banco de la Republica de Colombia.
    4. Juan José Echavarría & Alejandro Gaviria Uribe, 1992. "Los determinantes de la tasa de cambio y la coyuntura actual en Colombia," Coyuntura Económica, Fedesarrollo, vol. 22(4), pages 101-112, December.
    5. Mauricio Cárdenas, 1997. "La tasa de cambio en Colombia," Cuadernos de Fedesarrollo 12740, Fedesarrollo.
    6. Dornbusch, Rudiger, 1983. "Real Interest Rates, Home Goods, and Optimal External Borrowing," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 141-153, February.
    7. Franz A. Hamman & Alvaro Riascos, 1998. "Ciclos Económicos en una Economía Pequeña y Abierta- Una Aplicación para Colombia," Borradores de Economia 089, Banco de la Republica de Colombia.
    8. Andrés Felipe Arias & Martha Misas A., 1998. "Monetary Neutrality in the Colombian Real Exchange Rate," Borradores de Economia 085, Banco de la Republica de Colombia.
    9. Jesus Otero, 1999. "The real exchange rate in Colombia: an analysis using multivariate cointegration," Applied Economics, Taylor & Francis Journals, vol. 31(5), pages 661-671.
    10. Santiago Herrera Aguilera, 1989. "Determinantes De La Trayectoria Del Tipo De Cambio Real En Colombia," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 8(15), pages 5-23, June.
    11. Santiago Herrera, 1997. "El tipo de cambio real y la cuenta corriente de la balanza de pagos de largo plazo en Colombia," Coyuntura Económica, Fedesarrollo, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alonso Cifuentes, Julio César & Jaramillo Flechas, Luis Eduardo, 2019. "Descomponiendo el Efecto del Gasto Público en la Tasa de Cambio Real: Una Aproximación al Caso Colombiano || Decomposing the Effect of Public Spending on the Real Exchange Rate: An Approximation to th," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 27(1), pages 91-114, June.
    2. Andrés Felipe Arias & Hernando Zuleta, 1997. "Tasa de Cambio Real e Inversión. La Experiencia de 1990-1996," Borradores de Economia 3537, Banco de la Republica.
    3. Bussière, Matthieu & Karadimitropoulou, Aikaterini E. & León-Ledesma, Miguel A., 2021. "Current Account Dynamics And The Real Exchange Rate: Disentangling The Evidence," Macroeconomic Dynamics, Cambridge University Press, vol. 25(1), pages 28-58, January.
    4. Romain Restout, 2008. "Monopolistic Competition and the Dependent Economy Model," EconomiX Working Papers 2008-9, University of Paris Nanterre, EconomiX.
    5. Hoarau, Jean-François, 2009. "L’approche microéconomique du taux de change réel d’équilibre : une revue de la littérature théorique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 85(4), pages 403-436, décembre.
    6. Lee, Jaewoo & Chinn, Menzie D., 2006. "Current account and real exchange rate dynamics in the G7 countries," Journal of International Money and Finance, Elsevier, vol. 25(2), pages 257-274, March.
    7. Oyakhilome IBHAGUI, 2017. "Understanding the sources of high current account fluctuations in 5 developed economies," Turkish Economic Review, KSP Journals, vol. 4(3), pages 250-274, September.
    8. Bernard Njindan Iyke & Nicholas M. Odhiambo, 2015. "The Determinants of Long-run Real Exchange Rate in South Africa: A Fundamental Equilibrium Approach," Global Economy Journal (GEJ), World Scientific Publishing Co. Pte. Ltd., vol. 15(3), pages 319-336, September.
    9. Olivier Blanchard, 2007. "Current Account Deficits in Rich Countries," IMF Staff Papers, Palgrave Macmillan, vol. 54(2), pages 191-219, June.
    10. Chae-Deug Yi, 2003. "An Empirical Analysis of Ricardian Equivalence on Real Exchange Rate and Current Account: Korea," International Economic Journal, Taylor & Francis Journals, vol. 17(4), pages 61-83.
    11. Obstfeld, Maurice & Rogoff, Kenneth, 1995. "The intertemporal approach to the current account," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 34, pages 1731-1799, Elsevier.
    12. Juan José Echavarría & Diego Vásquez & Mauricio Villamizar, 2005. "La tasa de cambio real en Colombia. ¿Muy lejos del equilibrio?," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 23(49), pages 134-191, December.
    13. Bernard Njindan Iyke & Nicholas M. Odhiambo, 2017. "Modelling long-run equilibrium exchange rate in Botswana," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 10(3), pages 268-285, September.
    14. Rudiger Dornbusch, 1998. "Notes on Intertemporal Trade in Goods and Money," Journal of Applied Economics, Taylor & Francis Journals, vol. 1(1), pages 165-177, November.
    15. Helena Glebocki Keefe & Sujata Saha, 2022. "Threshold effects of openness on real and nominal effective exchange rates in emerging and developing economies," The World Economy, Wiley Blackwell, vol. 45(5), pages 1386-1408, May.
    16. Tarlok Singh, 2007. "Intertemporal Optimizing Models Of Trade And Current Account Balance: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 21(1), pages 25-64, February.
    17. Paul R. Bergin & Steven M. Sheffrin, 2017. "Interest Rates, Exchange Rates and Present Value Models of the Current Account," World Scientific Book Chapters, in: International Macroeconomic Interdependence, chapter 10, pages 287-316, World Scientific Publishing Co. Pte. Ltd..
    18. Coto-Martinez, Javier & Dixon, Huw, 2003. "Profits, markups and entry: fiscal policy in an open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 27(4), pages 573-597, February.
    19. Alexander Bilson Darku, 2010. "Consumption smoothing, capital controls and the current account in Ghana," Applied Economics, Taylor & Francis Journals, vol. 42(20), pages 2601-2616.
    20. Mr. Olumuyiwa S Adedeji, 2001. "Consumption-Based Interest Rate and the Present-Value Model of the Current Account—Evidence from Nigeria," IMF Working Papers 2001/093, International Monetary Fund.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lde:journl:y:1999:i:51:p:7-46. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carlos Andrés Vasco Correa (email available below). General contact details of provider: https://edirc.repec.org/data/deantco.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.