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La Tasa de Cambio Real de Equilibrio en Colombia y su Desalineamiento: Estimación a través de un modelo SVEC

  • Juan José Echavarría

    ()

  • Enrique López Enciso

    ()

  • Martha Misas

    ()

En este documento se calcula la tasa de cambio real de equilibrio y su desalineamiento. Este último 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 entre 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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Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 004389.

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Length: 38
Date of creation: 12 Dec 2007
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Handle: RePEc:col:000094:004389
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