dc.contributorHofstetter Gascón, Marc
dc.contributorVillamizar Villegas, Mauricio
dc.contributorZuleta Jaramillo, Luis Alberto
dc.creatorMedellín Martínez, Juan Camilo
dc.date.accessioned2022-09-26T22:08:25Z
dc.date.accessioned2023-09-06T23:29:56Z
dc.date.available2022-09-26T22:08:25Z
dc.date.available2023-09-06T23:29:56Z
dc.date.created2022-09-26T22:08:25Z
dc.date.issued2017
dc.identifierhttp://hdl.handle.net/1992/61068
dc.identifierinstname:Universidad de los Andes
dc.identifierreponame:Repositorio Institucional Séneca
dc.identifierrepourl:https://repositorio.uniandes.edu.co/
dc.identifier754207-1001
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/8726573
dc.description.abstract"Even though there are theoretical models that support the effectiveness of sterilized Foreign Exchange Intervention (FXI) practiced by central banks uitll the objective of affecting the level and reducing the volatility of exchange rates cycle, empirical works provide mixed testimony for developed and emerging countries. The purpose of this paper is to offer empirical evidence for Colombia about how periods of public savings enhance the effectiveness of sterilized FXI by using a GARCH model. For doing so, it is first necessary to construct a measure of policy shocks finding out which are the determinants of foreign exchange (FX) purchases made by the Colombian Central Bank over the 2010-2014 period. During this time span the monetary authority used an innovative type of foreign exchange purchases known as the day to day pre-announced interventions for which a reaction function hasn't been built yet. This reaction function is estimated with an ordinary least squares (OLS) model". -- Tomado del resumen.
dc.languagespa
dc.publisherUniversidad de los Andes
dc.publisherMaestría en Economía
dc.publisherFacultad de Economía
dc.rightsAl consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.
dc.rightshttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rightshttp://purl.org/coar/access_right/c_abf2
dc.titlePublic savings the effectiveness of sterilized foreign exchange intervention
dc.typeTrabajo de grado - Maestría


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