Exchange intervention effect in Colombia / Mauricio A Hernández Monsalve en Revista venezolana de análisis de coyuntura, Vol. XIV Nº 1 (Ene -Jun 2008)

Público ISBD [artículo]  inRevista venezolana de análisis de coyuntura > Vol. XIV Nº 1 (Ene -Jun 2008) . - 195 - 220 pp Título : Exchange intervention effect in Colombia : 2004-2006 Tipo de documento: texto impreso Autores: Mauricio A Hernández Monsalve, Autor Fecha de publicación: 2012 Artículo en la página: 195 - 220 pp Idioma : Español (spa) Idioma original : Español (spa) Palabras clave: 1.-STERILIZED  INTERVENTIONS.  2.-EXCHANGE  REGIME.  3.-MANAGED  FLOATING.  4.-EXCHANGE  MARKET. Clasificación: BC-PS (Publicaciones Seriadas) UNELLEZ-Barinas Resumen: This article measures the effectiveness of the interventions exertede by the Colombian Central Bank between 2004-2006 from a relative measure for the size of such interventions and its affects on the mean and variance of the nominal wxchange rate in the country in such period. The obtained results by means of a relative index of intervention, a GARCH estimation and an impulse-response fuction, indicate that such interventions had little and transitory effects in the level and variance of the exchange rate, presenting several day delays and being rapidly discounted by the market. Nota de contenido: a [artículo] Exchange intervention effect in Colombia : 2004-2006 [texto impreso] / Mauricio A Hernández Monsalve, Autor . - 2012 . - 195 - 220 pp. Idioma : Español (spa) Idioma original : Español (spa) in Revista venezolana de análisis de coyuntura > Vol. XIV Nº 1 (Ene -Jun 2008) . - 195 - 220 pp Palabras clave: 1.-STERILIZED  INTERVENTIONS.  2.-EXCHANGE  REGIME.  3.-MANAGED  FLOATING.  4.-EXCHANGE  MARKET. Clasificación: BC-PS (Publicaciones Seriadas) UNELLEZ-Barinas Resumen: This article measures the effectiveness of the interventions exertede by the Colombian Central Bank between 2004-2006 from a relative measure for the size of such interventions and its affects on the mean and variance of the nominal wxchange rate in the country in such period. The obtained results by means of a relative index of intervention, a GARCH estimation and an impulse-response fuction, indicate that such interventions had little and transitory effects in the level and variance of the exchange rate, presenting several day delays and being rapidly discounted by the market. Nota de contenido: a

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