Marquez, Indira Romero2013-08-272013-08-2720022002http://hdl.handle.net/10393/25125In this paper, it is estimated an unobserved component model (UCM) for four Latin American real exchange rates. The Kalman filter is used to indentify a permanent and a transitory component. The estimation of the model is made using a Gibbs-sampling approen