Uncovering the portfolio balance channel with the use of sovereign credit ratings
Borradores de Economía; No. 941
Date published
2016-05-11Date of last update
2016-05-11Author
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
In this paper we study exchange rate effects due to shifts in the portfolio composition of the Colombian financial sector during 2003-2014. We first provide a theoretical understanding of the channel's transmission mechanism by modeling how the banking
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https://repositorio.banrep.gov.co/handle/20.500.12134/6252https://hdl.handle.net/20.500.12134/6252
https://doi.org/10.32468/be.941
https://ideas.repec.org/p/bdr/borrec/941.html
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