A first approach to the impact of the real exchange rate on industrial sectors in Colombia

Much has been said about possible symptoms of Dutch disease in Colombia in the wake of a marked upsurge in commodity prices and the significant real appreciation of the national currency. This paper examines whether the real effective exchange rate had an impact on industry during the period 2000-2010. Specifically, it evaluates the effect of the appreciation of the real exchange rate on the value added of 63 industrial sectors in Colombia using the Arellano and Bond (1991) generalized method of moments (gmm) estimator. Overall, our results confirm a negative relationship between real exchange rate appreciation and industry. The analysis showed that real exchange rate appreciation had a significant impact on the value added of 21 sectors: a negative effect for 18 sectors and a positive effect for 3 sectors.

Exchange rate pass-through and inflation targets in Chile

Using quarterly data on the Chilean economy from 1986 to 2009, this article looks at the effect of gradual implementation of an inflation-targeting regime on exchange rate pass-through to prices. Initially, the introduction of inflation-targeting contributes to substantial reductions in the pass-through coefficient. However, in the second phase of implementation, once the monetary authority extends the policy horizon and introduces greater flexibility into the exchange rate system, the pass-through coefficient rises sharply. The findings of this study show that exchange rate pass-through to prices, in addition to being sensitive to the inflationary environment, is closely tied to the rules of the game that shape the monetary policy framework.

Nominal anchors and macroeconomic coordination options in MERCOSUR

Includes bibliography

Equilibrium real exchange rates, misalignment and competitiveness in the Southern Cone

Includes bibliography

The fiscal impact of trade liberalization and commodity price fluctuation: the case of Dominican Republic, 1980-1998

Includes bibliography

Cartera vencida y estrés macrofinanciero: un estudio econométrico para Centroamérica y la República Dominicana en 2008-2009

Incluye Bibliografía

Preliminary Overview of the Economies of Latin America and the Caribbean 2006

Includes bibliography

Preliminary Overview of the Economies of Latin America and the Caribbean 2010

Includes bibliography

Economic Survey of Latin America and the Caribbean 2003-2004

Includes bibliography

Economic Survey of Latin America and the Caribbean 2004-2005

Includes bibliography

Economic Survey of Latin America and the Caribbean 2010-2011: Internacional integration and macroeconomic policy challenges amid global economic turmoil

Includes bibliography

Regional financial cooperation

Includes bibliography

Fostering economic policy coordination in Latin America: the REDIMA approach to escaping the prisoner's dilemma

Includes bibliography

Review of Caribbean economic and social performance in the 1980's and 1990's

Includes bibliography