Effects of reputation and monetary policy communication on exchange rate uncertainty: evidence from an emerging market economy
https://doi.org/10.3326/pse.50.1.6 | Published online: March 18, 2026 Graph 1
Evolution of the exchange rate, inflation, and the policy rate in Colombia, 2007-2021 Graph 2
Disagreement in expectations and forecast errors for the COP/USD exchange rate Table 1
Inflesz perspicuity scale Graph 3
Indicators of central bank reputation, clarity of communication and disagreement among monetary policymakers Table 2
Effects of monetary policy reputation and communication on disagreements of the exchange rate Table 3
Effects of monetary policy reputation and communication on forecast errors of the exchange rate Table 4
ARDL – Level relationships obtained from Equation (5) – Dis_Ext Table 5
ARDL – Level relationships obtained from Equation (6) – Errort Table A1
Descriptive statistics and correlations among variables Table A2
Unit root and stationarity tests Table A3
Unit root with break test Table A4
Serial correlation and heteroskedasticity tests
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