2015-01-162015-01-162015-01-162015-01-16https://repositorio.banrep.gov.co/handle/20.500.12134/6150In this paper we survey prominent theories that have shaped the literature on sterilized foreign exchange interventions. We identify three main strands of literature: 1) that which advocates the use of sterilized interventions; 2) that which deems steriliPDFspaOpen AccessWorking PaperE52 - Monetary PolicyE58 - Central Banks and Their PoliciesF31 - Foreign ExchangeSterilized foreign exchange interventionImpossible trinityPortfolio balance channelSignaling channelUncovered interest rate parityCambio exterior -- Intervención del estadoTasas de interiorCambio exterior -- ModelosCambio exterior -- TeoríasAcceso abiertoAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0E58 - Bancos centrales y sus políticasF31 - Tipos de cambioE52 - Política monetariaLas 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.https://hdl.handle.net/20.500.12134/6150