SciELO - Scientific Electronic Library Online

 
vol.32 issue59EFECTOS DE LA REFORMA ESTRUCTURAL ARANCELARIA EN LA PROTECCIÓN EFECTIVA ARANCELARIA DE LA ECONOMÍA COLOMBIANAPATRONES DE MIGRACIÓN EN COLOMBIA DESDE LA PERSPECTIVA DE LA TEORÍA DE REDES author indexsubject indexarticles search
Home Pagealphabetic serial listing  

Services on Demand

Article

Indicators

Related links

  • On index processCited by Google
  • Have no similar articlesSimilars in SciELO
  • On index processSimilars in Google

Share


Cuadernos de Economía

Print version ISSN 0121-4772

Abstract

LOPERA CASTANO, Mauricio; MESA CALLEJAS, Ramón Javier; RESTREPO OCHOA, Sergio Iván  and  LONDONO HENAO, Charle Augusto. MODELANDO EL ESQUEMA DE INTERVENCIONES DEL TIPO DE CAMBIO PARA COLOMBIA.: UNA APLICACIÓN EMPÍRICA DE LA TÉCNICA DE REGRESIÓN DEL CUANTIL BAJO REDES NEURONALES. Cuad. Econ. [online]. 2013, vol.32, n.59, pp.305-335. ISSN 0121-4772.

This article evaluates the efficiency of Banco de la Republica's interventions using a coordination channel theoretical model. In this model, the effect of the dif ferential interest rate, an intervention variable derived using a Markov-switching model, and the actions of technical and fundamentalists investors on the quantiles of return of the exchange rate (TRM for its initials in Spanish) are evaluated. By using an impulse-response function it was found that the intervention variable has a high effect on the TRM returns in the fifth and twenty-fifth quantiles, but without obtaining a complete mean reversion on the fiftieth quantile

Keywords : exchange interventions; coordination channel model; Markov- switching model; quantile regression neural network.

        · abstract in Spanish | French     · text in Spanish     · Spanish ( pdf )