Borradores de Economia
Number:
857
Published:
Classification JEL:
C5, F31, F47, G15
Keywords:
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
The most recent
Catalina Granda-Carvajal, Jesús Enrique Morales-Piñero
Elkin Navas-Diago, Jorge Quintero-Otero
Cristian David González-Téllez
This paper provides evidence of short-run predictability for the real exchange rate by performing out-of-sample tests of a forecasting equation which is derived from a consumption-based asset pricing model. In this model, the real exchange rate is predict