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) |