Borradores de Economia
Número:
964
Publicado:
Clasificación JEL:
E58, F31, C22
Palabras clave:
Rule-Based Foreign Exchange Interventions, Portfolio Balance, Central Bank Policy, Regression Discontinuity
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Juan Esteban Carranza-Romero, Alejandra González-Ramírez, Mauricio Villamizar-Villegas
Hernán Rincón-Castro, Steven Zapata-Álvarez
We investigate the e ectiveness of sterilized foreign exchange interventions by exploiting a discontinuous policy rule used by the Central Bank of Colombia (CBoC). We use a unique data set from CBoC comprised of tick by tick intervention and order book da