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Modelling official and parallel exchange rates in Colombia under alternative regimes: a non-linear approach

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dc.creatorMilas, Costas
dc.creatorOtero Cardona, Jesús Gilberto
dc.date.accessioned2015-10-16T18:35:59Z
dc.date.available2015-10-16T18:35:59Z
dc.date.created2000-02
dc.date.issued2000
dc.description.abstractWe examine the long-run relationship between the parallel and the official exchange rate in Colombia over two regimes; a crawling peg period and a more flexible crawling band one. The short-run adjustment process of the parallel rate is examined both in a linear and a nonlinear context. We find that the change from the crawling peg to the crawling band regime did not affect the long-run relationship between the official and parallel exchange rates, but altered the short-run dynamics. Non-linear adjustment seems appropriate for the first period, mainly due to strict foreign controls that cause distortions in the transition back to equilibrium once disequilibrium occurseng
dc.format.extent21 páginasspa
dc.format.mediumRecurso electrónicospa
dc.format.mimetypeapplication/pdf
dc.format.tipoDocumentospa
dc.identifier.doihttps://doi.org/10.48713/10336_11301
dc.identifier.editorialUniversidad del Rosario, Facultad de Economíaspa
dc.identifier.issn0124-4396
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/11301
dc.language.isoeng
dc.publisherUniversidad del Rosariospa
dc.publisher.departmentFacultad de Economíaspa
dc.relation.citationTitleEconomía. Serie Documentos, Borradores de Investigación
dc.relation.isversionof1spa
dc.relation.urihttps://ideas.repec.org/p/col/000091/003231.html
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto completo)spa
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombiaspa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subject.ddcEconomía financiera
dc.subject.keywordParallel marketeng
dc.subject.keywordCointegrationeng
dc.subject.keywordNon-linear error correction modelseng
dc.subject.keywordColombiaeng
dc.subject.lembCambio exterior::Colombiaspa
dc.subject.lembTasas de interés::Colombiaspa
dc.subject.lembPolítica monetaria::Colombiaspa
dc.titleModelling official and parallel exchange rates in Colombia under alternative regimes: a non-linear approachspa
dc.typeworkingPapereng
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.type.spaDocumento de trabajospa
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