An Exchange Rate Band in Times Of Turbulence: Colombia 1991-96

Número: 
70
Publicado: 
Clasificación JEL: 
E62, E64
Palabras clave: 
Exchange, Colombia

In the context of a medium term process of real appreciation, linked largely to fiscal policy and capital inflows, Colombia was hit by a political schok and had to deal with expectations of nominal devaluation. This paper discusses three issues. First, t