IDEAS home Printed from https://ideas.repec.org/p/col/000094/004581.html

Desalineamiento de la Tasa de Cambio, Destorcidas de Cuenta Corriente y Ataques Especulativos en Colombia

Author

Listed:
  • Juan Jos� Echavarr�a
  • Enrique L�pez Enciso
  • Martha Misas

Abstract

En este trabajo se eval�a el patr�n del desalineamiento de la tasa de cambio real, con base en la metodolog�a Markov-Switching. Se encuentran dos estados de la naturaleza que ac� se denominan como "equilibrio" y "sobre-revaluaci�n. Se construyen �ndices de "ataques especulativos" y de destorcidas en cuenta corriente y se muestra que en general �stos se presentan durante o un poco despu�s de la sobre-revaluaci�n cambiaria. Los per�odos de sobre-revaluaci�n y de ataques est�n asociados (entre otros) con bajos niveles de crecimiento y alto desempleo en la econom�a. Ello significa que el concepto de tasa de cambio de equilibrio tambi�n conlleva implicaciones normativas; la tasa de cambio de equilibrio puede asociarse parcialmente con la tasa deseable y/o sostenible para el pa�s.

Suggested Citation

  • Juan Jos� Echavarr�a & Enrique L�pez Enciso & Martha Misas, 2008. "Desalineamiento de la Tasa de Cambio, Destorcidas de Cuenta Corriente y Ataques Especulativos en Colombia," Borradores de Economia 4581, Banco de la Republica.
    • Handle: RePEc:col:000094:004581
    as

    Download full text from publisher

    File URL: http://www.banrep.gov.co/docum/ftp/borra500.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gloria Alonso Masmela & Juan Nic�las Hern�ndez & Jos� David Pulido & Martha Luc�a Villa, 2008. "Medidas Alternativas De Tasa De Cambio Real Para Colombia," Borradores de Economia 4679, Banco de la Republica.
    2. Rafael Puyana Mart√≠nez-Villalba, 2011. "El efecto Balassa-Samuelson en Colombia," Documentos CEDE 7959, Universidad de los Andes, Facultad de Economía, CEDE.
    3. Rafael Puyana Martínez-Villaba, 2010. "El efecto Balassa-Samuelson en Colombia," Borradores de Economia 630, Banco de la Republica de Colombia.
    4. Luz Mery Huertas Romero, Andrés Mauricio Pérez Vásquez Xiomara García Moreno, 2012. "Análisis Macroeconómico Comparativo Entre Colombia Y Los Paises Del Efta," Revista Isocuanta, Universidad Santo Tomás, vol. 0(0), pages 1-22.
    5. Rafael Puyana, 2010. "El efecto Balassa-Samuelson en Colombia," Borradores de Economia 7801, Banco de la Republica.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

    Statistics

    Access and download statistics

    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:col:000094:004581. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Clorith Angelica Bahos Olivera (email available below). General contact details of provider: .

    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.