Estimating credibility in Colombia's exchange rate target zone
This paper analyzes credibility in the Colombian exchange rate target zone. A model of imperfect credibility, in the spirit of Bertola and Svensson (1993) is derived, and is used to explain why the exchange rate in Colombia has remained for prolonged periods neathe borders of the zone. The main feat...
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| Formato: | Documento de trabajo (Working Paper) |
| Lenguaje: | Español (Spanish) |
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Banco de la República
1998
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| Acceso en línea: | http://repositorio.banrep.gov.co/handle/20.500.12134/5121 |