Villamizar-Villegas, Mauricio; Perez-Reyna, David - BANCO DE LA REPÚBLICA - 2015
In this paper we survey prominent theories that have shaped the literature on sterilized foreign exchange interventions. We identify three main strands of literature: 1) that which advocates the use of sterilized interventions; 2) that which deems sterilized interventions futile; and 3) that...