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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Andrés Nicolás Herrera-Rojas, David Camilo López-Valenzuela, Juan José Ospina-Tejeiro, Jesús Antonio Bejarano-Rojas
Jaime Alfredo Bonet-Moron, Yuri Carolina Reina-Aranza, Adriana Ortega, Ana Rosa Polanco

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