Delineating functional territories from outer space | Latin American Economic Review
The delimitation of functional spatial units or functional territories is an important topic in regional science and economic geography, since the empirical verification of many causal relationships is affected by the size and shape of these areas. This paper, written by Julio A. Berdegué, Tatiana Hiller, Juan Mauricio Ramírez, Santiago Satizábal, Isidro Soloaga, Juan Soto, Miguel Uribe & Olga Vargas , proposes a two-step
- Published in Revistas CIDE
Great expectations? evidence from Colombia’s exchange rate survey
In this paper written by Juan Jose Echavarria and Mauricio Villamizar-Villegas, we use the largest exchange rate survey in Colombia to test for the rational expectations hypothesis, the presence of a time-varying risk premium and the accuracy of exchange rate forecasts. Our findings indicate that episodes of exchange rate appreciation preceded expectations of further appreciation
- Published in Revistas CIDE
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