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Determinantes del Tipo de Cambio Real de Equilibrio en Perú: ¿Es el sol una moneda commodity?
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Determinantes del Tipo de Cambio Real de Equilibrio en Perú: ¿Es el sol una moneda commodity?

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  • Tashu, Melesse

Abstract

En este estudio se evalúa la hipótesis de que el sol es una moneda commodity y, de manera más general, se identifican los determinantes del tipo de cambio real de equilibrio en Perú por medio de un análisis de cointegración. Los resultados muestran que los precios de las materias primas de exportación no tienen un impacto estadísticamente significativo sobre el tipo de cambio real efectivo de Perú, lo que sugiere que el sol no es una moneda commodity. El documento proporciona evidencia empírica de que la gran repatriación de utilidades y la intervención cambiaria han aislado de manera efectiva al tipo de cambio real de Perú del impacto de los choques de precios de materias primas. Se encuentra que el tipo de cambio real de equilibrio de Perú está impulsado principalmente por la productividad y el consumo del gobierno.

Suggested Citation

  • Tashu, Melesse, 2018. "Determinantes del Tipo de Cambio Real de Equilibrio en Perú: ¿Es el sol una moneda commodity?," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 36, pages 9-30.
    • Handle: RePEc:rbp:esteco:ree-36-01
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    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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