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El régimen de tasa de cambio fija

In: Dinero, banca y mercados financieros. Los países emergentes en la economía global

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  • Gómez-Pineda, Javier G.

Abstract

En el capítulo estudiamos los distintos regímenes de tasa de cambio fija que se dividen principalmente en los de tipo de cambio fijo ajustable y no ajustable. Dentro de los no ajustables está la dolarización parcial, en sus formas de dolarización de pagos, financiera y real. Además, estudiamos los mecanismos de ajuste dentro del régimen de tasa de cambio fija; primero, el de la movilidad del capital, con su efecto sobre la cantidad de dinero y las tasas de interés; y segundo, el de la balanza comercial, con su efecto monetario sobre los precios a través de la cantidad de dinero. Finalmente enumeramos algunas de las ventajas y desventajas del régimen de tasa de cambio fija. Como principal desventaja está, si hay movilidad internacional del capital, la pérdida de autonomía monetaria. No obstante, la política monetaria puede dirigirse a objetivos internos si la movilidad internacional del capital no se permite; esto se logra al costo del atraso del desarrollo de los mercados financieros.

Suggested Citation

  • Gómez-Pineda, Javier G., 2010. "El régimen de tasa de cambio fija," Chapters,in: Gómez-Pineda, Javier G. (ed.), Dinero, banca y mercados financieros. Los países emergentes en la economía global, chapter 13, pages 303-320 Banco de la Republica de Colombia.
  • Handle: RePEc:bdr:bdrcap:2010-05-303-320
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    Keywords

    Tasa de cambio fija pero ajustable; tasa de cambio fija; caja de convertibilidad; dolarización; dolarización parcial; dolarización de pagos; dolarización financiera; dolarización real; Fixed exchange rate; Fixed but adjustable exchange rate; Currency board; Dollarization; Partial dollarization; Payments dollarization; Financial dollarization; Real dollarization;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications

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