Uncovering the portfolio balance channel with the use of sovereign credit ratings

In this paper we study exchange rate effects due to shifts in the portfolio composition of the Colombian financial sector during 2003-2014. We first provide a theoretical understanding of the channel's transmission mechanism by modeling how the banking

Detalles Bibliográficos
Autores Principales: Andrade-Pardo, Laura, Valencia-Arana, Oscar Mauricio, Vásquez, Diego Mauricio, Villamizar-Villegas, Mauricio
Formato: Documento de trabajo (Working Paper)
Lenguaje:Español (Spanish)
Publicado: Banco de la República 2016
Acceso en línea:http://repositorio.banrep.gov.co/handle/20.500.12134/6252