Borradores de Economia
Número:
941
Publicado:
Clasificación JEL:
C58, E44, G11, G14
Palabras clave:
Portfolio Balance Channel, Sovereign Credit Rating, Uncovered Interest Rate Parity, Monetary Trilemma
Lo más reciente
Aarón Levi Garavito-Acosta, Wilmer Martinez-Rivera, Camilo González-Sabogal, Johanna Barbosa-Buitrago, Nathaly Vergel-Serrano
Zhibiao Zhao, Manuel Darío Hernández-Bejarano
Nicol Valeria Rodríguez-Rodríguez, Sebastián Quintero-Uribe, Johanna Barbosa-Buitrago
In this paper we study exchange rate effects due to shifts in the portfolio composition of the Colombian financial sector during 2003-2014. We first provide a theoretical understanding of the channel's transmission mechanism by modeling how the banking