Exchange rate regime

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  • The Size of Fiscal Multipliers and the Stance of Monetary Policy in Developing Economies

    Publicación |

    In this paper we estimate the effect of government consumption shocks on GDP using a panel of 21 developing economies. Our goal is to better understand the reasons for the low fiscal multipliers found in the literature by performing estimations for alternative exchange rate regimes, business-…

  • Monetary Policy and the Exchange Rate in Colombia

    Publicación |

    The role of the exchange rate and the exchange rate regime in the monetary policy decision-making process in Colombia is described. The rationale for the intervention of the Central Bank in the FX market is explained and the experience in this regard is reviewed. Special attention is given to…