| Título: | PPP, UIP and Fisher parity: speculation or rational expectations? Evidence for four Latin American countries |
| Autores: | Obando Rozo, Nataly |
| Fecha: | 2013-09-13 |
| Publicador: | Universidad del Rosario, Colombia |
| Fuente: |
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| Tipo: | masterThesis |
| Tema: |
Long Swings, Imperfect Knowledge, CVAR, Currency markets CAMBIO EXTERIOR - AMÉRICA LATINA ESPECULACIÓN - AMÉRICA LATINA MERCADO FINANCIERO - AMÉRICA LATINA MODELOS ECONÓMICOS RIESGO (FINANZAS) Long Swings, Imperfect Knowledge, CVAR, Currency markets |
| Descripción: |
This work aims to test the equilibrium relations of two international macroeconomics models for Colombia, Chile, Mexico and Brazil. The first model is the rational expectation hypothesis (REH) where three key relations will be tested: Purchasing Power Parity (PPP), Uncovered Interest Rate Parity (UIP) and the Fisher Parity condition. The second model follows the line of though of Imperfect Knowledge Economics (IKE) where two equilibrium relations will be tested. According to IKE, even under the assumption that agents are rational, the presence of speculative behavior in financial markets helps explain the long swings often observed in the behavior of exchange rates. The results support the view that the predictions of the IKE model hold for Colombia, while those of the REH hold for both Brazil and Mexico. Mixed findings are obtained for Chile. This work aims to test the equilibrium relations of two international macroeconomics models for Colombia, Chile, Mexico and Brazil. The first model is the rational expectation hypothesis (REH) where three key relations will be tested: Purchasing Power Parity (PPP), Uncovered Interest Rate Parity (UIP) and the Fisher Parity condition. The second model follows the line of thought of Imperfect Knowledge Economics (IKE) where two equilibrium relations will be tested. According to IKE, even under the assumption that agents are rational, the presence of speculative behavior in financial markets helps explain the long swings often observed in the behavior of exchange rates. The results support the view that the predictions of the IKE model hold for Colombia, while those of the REH hold for both Brazil and Mexico. Mixed findings are obtained for Chile. |
| Idioma: | Español |
1 Directrices para la creación de repositorios institucionales en universidades y organizaciones de educación superior por Bustos González, Atilio,Fernández Porcel, Antonio | 6 Aprender haciendo : experiencia en la formación de jóvenes investigadores en Colombia por Jaramillo Salazar, Hernán,Piñeros J., Luis Jaime,Lopera O., Carolina Carolina,Álvarez G., Jesús María |
2 Las acciones populares en el derecho privado colombiano por Sarmiento Palacio, Germán, 1945-1996 | 7 Arcesio Londoño Palacio, un caldense con proyección nacional por Ramírez Londoño, María Luisa |
3 Administración de proyectos por Medellín Duarte, Víctor | 8 |
4 Análisis estructural de sectores estratégicos por Restrepo Puerta, Luis Fernando,Rivera Rodríguez, Hugo Alberto | 9 |
5 | 10 Bioquímica I : de la estructura a la función. La pregunta como base de la inquietud científica. Orientaciones para aprender a aprender por Garzón, Ruth,Riesgo, Lilia del,Rojas Losada, María Orfa |