An exchange rate band in times of turbulence: Colombia 1991-96

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Borradores de Economía; No. 70

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Carrasquilla-Barrera, Alberto
Banco de la República
E64 - Incomes Policy; Price Policy; E62 - Fiscal Policy; Exchange; Colombia; Bandas cambiarias -- Colombia -- 1991-1996; Cambio exterior -- Colombia -- 1991-1996; E64 - Política de rentas; Política de precios; E62 - Política fiscal
paper description
In the context of a medium term process of real appreciation, linked largely to fiscal policy and capital inflows, Colombia was hit by a political schok and had to deal with expectations of nominal devaluation. This paper discusses three issues. First, t