A Model of the Nominal and Real Exchange Rates in Colombia

Número: 
129
Publicado: 
Clasificación JEL: 
F31, F41
Palabras clave: 
Nominal, real, Exchange Rate, Colombia

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Luis E. Arango, Leonardo Bonilla-Mejía, Luz Adriana Flórez, Luis E. Arango
Julián Andrés Parra-Polanía, Constanza Martínez-Ventura

Using the johansens cointegration technique we develop an empirical model of the nominal and real exchange rates of Colombia. We find that the nominal exchange rate is determined by the nominal variables and the fundamentals and that the real exchange rat