Desequilibrios nominales y reales del tipo de cambio en Colombia
| dc.audience | Policymakers | eng |
| dc.audience | Researchers | eng |
| dc.audience | Students | eng |
| dc.audience | Teachers | eng |
| dc.coverage.sucursal | Bogotá | spa |
| dc.creator | Oliveros, Hugo | |
| dc.creator | Huertas-Campos, Carlos Alfonso | |
| dc.date.accessioned | 2003-06-01T08:30:10Z | eng |
| dc.date.available | 2003-06-01T08:30:10Z | eng |
| dc.date.created | 2003-06-01 | spa |
| dc.date.issued | 2003-06 | eng |
| dc.description | La estimación de los desequilibrios nominales y reales del tipo de cambio(TC) en Colombia se construye a partir de dos componentes: el permanenteasociado con una tendencia estocástica (no estacionaria) y el transitoriovinculado con el ciclo (estacionario). La separación entre lo permanente ylo transitorio se realiza a partir de las relaciones de largo plazo entre el TCnominal (real) y sus determinantes fundamentales. El nivel de equilibrio dela TC nominal (real) se obtiene como el componente permanente, según lametodología de common trends", aplicada a la TC nominal y a susdeterminantes fundamentales, mientras que el componente transitorio secalcula por residuo y se asocia al desequilibrio. El ejercicio se lleva a cabopara diferentes frecuencias (anual y trimestral) y períodos de información y se usan variosmodelos de determinación del TC nominal y real." | spa |
| dc.description.abstract | The nominal and real disequilibrium of the Colombian exchange rate (ER) are estimated by using two components: the permanent, associated with a stochastic trend (no stationary) and the transitory, linked with the cycle (stationary). The decomposition between the permanent and the transitory component is done by using the long-term relationships between nominal (real) ER and its fundamentals. The equilibrium level of the nominal (real) ER is obtained as the permanent component by common trend methodology, applied to both measures of the ER, nominal and real, and its fundamentals; meanwhile the transitory component is calculated as a residual, and is associated with the disequilibrium. The exercise is made for different information periods and different time frequencies (quarterly and annual). Different models were considered for the determination of both the nominal and real exchange rates. | eng |
| dc.format.extent | 35 páginas : gráficas, tablas | spa |
| dc.format.mimetype | spa | |
| dc.identifier.handle | https://hdl.handle.net/20.500.12134/3248 | spa |
| dc.identifier.uri | https://repositorio.banrep.gov.co/handle/20.500.12134/3248 | |
| dc.language.iso | spa | spa |
| dc.publisher | Banco de la República de Colombia | spa |
| dc.relation.doi | https://doi.org/10.32468/Espe.4302 | spa |
| dc.relation.dotec | https://ideas.repec.org/a/col/000107/005296.html | spa |
| dc.relation.ispartof | Artículos de revista | spa |
| dc.relation.ispartofseries | Revista Ensayos Sobre Política Económica | spa |
| dc.relation.issn | 0120-4483 | spa |
| dc.relation.isversionof | Revista Ensayos Sobre Política Económica; Vol. 21. No. 43. Junio, 2003. Pág.: 32-65. | spa |
| dc.relation.repec | https://ideas.repec.org/a/bdr/ensayo/v21y2003i43p32-65.html | spa |
| dc.rights.accessRights | Open Access | eng |
| dc.rights.cc | Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0 | eng |
| dc.rights.spa | Acceso abierto | spa |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/ | eng |
| dc.source.bibliographicCitation | Ariño, M.; Newbold, P. (1998). “Computation of the Beridge-Nelson decomposition for multivariate economic time series”, en Economics Letters, No. 61, pp. 37-42. | spa |
| dc.source.bibliographicCitation | Campbell, J.; Perron, P. (1991). “Pitfalls and Opportunities: What macroeconomics should know about unit roots”, en NBER, Macroeconomics Annual, pp. 141-201. | spa |
| dc.source.bibliographicCitation | Clark, P.; MacDonald, R. (2000). “Filtering the BEER: A permanent and Transitory Decomposition”, en Fondo Monetario Internacional, documento de trabajo, WP/ 144. | spa |
| dc.source.handleRepec | RePEc:col:000107:005296 | spa |
| dc.subject | Tasa de cambio real | spa |
| dc.subject | Equilibrio de la tasa de cambio real | spa |
| dc.subject.jel | C32 - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models | eng |
| dc.subject.jel | F31 - Foreign Exchange | eng |
| dc.subject.jelspa | C32 - Modelos de series temporales; Regresiones cuantiles dinámicas; Modelos dinámicos de tratamiento; procesos de difusión; representación de espacios de estados | spa |
| dc.subject.jelspa | F31 - Tipos de cambio | spa |
| dc.subject.keyword | Real exchange rate | eng |
| dc.subject.keyword | Equilibrium | eng |
| dc.subject.lemb | Cambio exterior -- Colombia | spa |
| dc.subject.lemb | Análisis de series de tiempo | spa |
| dc.subject.lemb | Precios | spa |
| dc.title | Desequilibrios nominales y reales del tipo de cambio en Colombia | spa |
| dc.title.alternative | Nominal and real disequilibria of the colombian exchange rate | spa |
| dc.type | Article | eng |
| dc.type.hasversion | Published Version | eng |
| dc.type.spa | Artículo | spa |
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