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Titel (übersetzt): 
Decomposing the effect of public spending on the real exchange rate: An approximation to the Colombian case
Erscheinungsjahr: 
2019
Quellenangabe: 
[Journal:] Revista de Métodos Cuantitativos para la Economía y la Empresa [ISSN:] 1886-516X [Volume:] 27 [Year:] 2019 [Pages:] 91-114
Verlag: 
Universidad Pablo de Olavide, Sevilla
Zusammenfassung (übersetzt): 
This paper studies the relation between government spending composition and long-run behavior of Colombian real Exchange rate given the recomposition since 2004 from public consumption to public investment. Our results suggest that empirical models work better when the relative price of non-tradables is used as a measure of the real Exchange rate instead of an index based on the purchasing power parity. Besides, there is evidence that real exchange rate behavior is mainly explained by supply side factors and that without the recomposition, expected real Exchange rate would have been close to the observed one.
Schlagwörter: 
government spending
real exchange rate
relative price of non-tradables
misalignment
Balassa-Samuelson
JEL: 
F41
E62
C32
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
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Dokumentart: 
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