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- Title
EL ROL DEL TIPO DE CAMBIO EN PERU: ¿AMORTIGUADOR O FUENTE DE CHOQUES?
- Authors
RIBEIRO, JOAO
- Abstract
This paper examines the role of the exchange rate in Peru using a stochastic model for a small open economy that is identified through a structural model with autoregressive vectors (SVAR) with long term restrictions to the Blanchard and Quah. The decomposition of variance indicates that the This paper examines the role of the exchange rate in Peru using a stochastic model for a small open economy that is identified through a structural model with autoregressive vectors (SVAR) with long term restrictions to the Blanchard and Quah. The decomposition of variance indicates that the real supply and demand shocks are the main source of fluctuations in the economic cycles in Peru and that, as the quarters pass, they are gaining relevance in explaining the movements of the exchange rate. These results suggest that the exchange rate plays a role in absorbing the real shocks that affect the Peruvian economy.
- Subjects
FOREIGN exchange rates; PERUVIAN economy; MACROECONOMICS
- Publication
Economic Analysis Review / Revista de Análisis Económico, 2018, Vol 33, Issue 2, p79
- ISSN
0716-5927
- Publication type
Article