Pamela Cardozo
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- Publicación |For the last decade, Banco de la República has provided oversight of the local financial infrastructure as an additional contribution to support the country’s financial stability. This is a function performed by most central banks the world over, because they recognize infrastructure as being an…
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Banco de la República (BR) generates information intended for decision-making, accountability, and dissemination to the public. In particular, the Financial Markets Report is framed within the principle of dissemination to the public and contributes to the Central Bank's service of providing…
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The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors
- Publicación |Abstract
Although transactions of foreign exchange market intermediaries with the real sector in the peso-dollar market are low in comparison to the ones with offshore agents, it is important to understand the behavior of the real sector and its impact on the exchange market. This paper assesses…
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We analyse three models to determine the conditions under which reserve requirements are used as a part of an optimal monetary policy framework in an inflation targeting regime. In all cases the Central Bank (CB) minimizes an objective function that depends on deviations of inflation from its…
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