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Table 3 Attrition probit regression

From: Great expectations? evidence from Colombia’s exchange rate survey

Variable  
Past expected depreciation \(E_t[\Delta S_{i,t-k}]\), k = 1 month −0.61 (2.228)
Past expected depreciation \(E_t[\Delta S_{i,t-k}]\), k = 1 year −0.14 (0.930)
Financial type: banks, stock brokers, pension funds 0.04 (0.085)
Episode of capital controls (\(D_{2007{-}2008}\)) −0.05 (0.248)
Central bank’s policy rate 0.015 (0.049)
Board meeting dates −0.06 (0.111)
Forward discount (\(F_{t}^{t+k}-S_{t}\)) −4.81 (6.136)
Exchange rate equilibrium forecast 0.41 (1.457)
Emerging market bond index (Embi) −0.00 (0.001)
  1. Dependent variable is the attrition function indicator (with a value of unity for missing values). Values correspond to Probit coefficients, not marginal effects. Pseudo R\(^{2}=0.0023\). Total number of observations: 755. Constant not reported
  2. ***, **, * correspond to significance levels of 1, 5 and 10 %, respectively