<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2248-6046</journal-id>
<journal-title><![CDATA[Revista Finanzas y Política Económica]]></journal-title>
<abbrev-journal-title><![CDATA[Finanz. polit. econ.]]></abbrev-journal-title>
<issn>2248-6046</issn>
<publisher>
<publisher-name><![CDATA[Universidad Católica de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2248-60462016000200379</article-id>
<article-id pub-id-type="doi">10.14718/revfinanzpolitecon.2016.8.2.8</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[EL PRECIO MUNDIAL DEL CAFÉ Y SU EFECTO EN EL PRECIO MINORISTA PARA LAS CINCO PRINCIPALES CIUDADES DE COLOMBIA]]></article-title>
<article-title xml:lang="en"><![CDATA[THE INTERNATIONAL COFFEE PRICE AND ITS EFFECT ON THE RETAIL PRICE FOR THE FIVE MAIN CITIES IN COLOMBIA]]></article-title>
<article-title xml:lang="pt"><![CDATA[O PREÇO MUNDIAL DO CAFÉ E SEU EFEITO NO PREÇO VAREJISTA PARA AS CINCO PRINCIPAIS CIDADES DA COLÔMBIA]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Alonso Cifuentes]]></surname>
<given-names><![CDATA[Julio César]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Estrada Nates]]></surname>
<given-names><![CDATA[Daniela]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Icesi  ]]></institution>
<addr-line><![CDATA[Cali ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Icesi  ]]></institution>
<addr-line><![CDATA[Cali ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>07</month>
<year>2016</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>07</month>
<year>2016</year>
</pub-date>
<volume>8</volume>
<numero>2</numero>
<fpage>379</fpage>
<lpage>399</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S2248-60462016000200379&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S2248-60462016000200379&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S2248-60462016000200379&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN Este estudio examina la relación entre el precio internacional y el precio al por menor del café en las cinco ciudades principales de Colombia. Para ello se realizan pruebas de cointegración, de causalidad a la Granger y funciones de impulso-respuesta. La evidencia muestra la existencia de una relación de largo plazo entre los precios al por menor en las cinco principales ciudades y el precio mundial del café. Esta relación tiene una causalidad unidireccional del precio internacional a los precios del café al por menor. La magnitud de la transmisión del precio mundial permanece 36 meses o más para la mayoría de los precios del café al por menor. JEL: A10, C22, Q1.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT This study examines the relationship between the international coffee price and retail coffee prices in the five main cities in Colombia through cointegration tests, Granger causality tests, and impulse-response functions. The evidence points to the existence of a long-term relationship between the retail prices in the five main cities and the world coffee price. This relationship has a unidirectional causality of international coffee prices to retail coffee prices. The magnitude of the transmission of the international global price remains for 36 months or more for most retail coffee prices.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[RESUMO Este estudo examina a relação entre o preço internacional e o preço no varejo do café nas cinco cidades principais da Colômbia. Para isso, realizamse testes de cointegração, de causalidade de Granger e funções de impulsoresposta. A evidência mostra a existência de uma relação de longo prazo entre os preços no varejo nas cinco principais cidades e o preço internacional do café. Essa relação tem uma causalidade unidirecional do preço internacional aos preços do café no varejo. A magnitude da transmissão do preço mundial permanece 36 meses ou mais para a maioria dos preços do café no varejo.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[café]]></kwd>
<kwd lng="es"><![CDATA[Colombia]]></kwd>
<kwd lng="es"><![CDATA[cointegración]]></kwd>
<kwd lng="es"><![CDATA[causalidad a la Granger]]></kwd>
<kwd lng="es"><![CDATA[función impulso-respuesta]]></kwd>
<kwd lng="en"><![CDATA[coffee]]></kwd>
<kwd lng="en"><![CDATA[Colombia]]></kwd>
<kwd lng="en"><![CDATA[cointegration]]></kwd>
<kwd lng="en"><![CDATA[Granger causality test]]></kwd>
<kwd lng="en"><![CDATA[impulse-response functions]]></kwd>
<kwd lng="pt"><![CDATA[café]]></kwd>
<kwd lng="pt"><![CDATA[Colômbia]]></kwd>
<kwd lng="pt"><![CDATA[cointegração]]></kwd>
<kwd lng="pt"><![CDATA[causalidade de Granger]]></kwd>
<kwd lng="pt"><![CDATA[função impulso-resposta]]></kwd>
</kwd-group>
</article-meta>
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