Resumo

LOPERA, Mauricio; MESA, Ramón Javier  e  LONDONO, Charle. Evaluating foreign exchange interventions in Colombia: 2004-2012. estud.gerenc. [online]. 2014, vol.30, n.130, pp.85-94. ISSN 0123-5923.

This research aims to evaluate the effectiveness of interventions in the Colombian exchange market, by the so-called coordination channel theoretical model using Quantile Regression Neural Network methodology. For this purpose, the effect of uninformed and informed investors was estimated, as well as that of the central bank at different quantiles on the return distribution of the exchange rate in the long-term. It was found that the exchange authority has a greater influence on the lower quantiles of the distribution, such as 5% and 25%, which reflect effects associated with the revaluation of the peso.

Palavras-chave : Exchange interventions; Coordination channel model; Quantile regression neural network.

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