H62

A continuación, se listan los contenidos disponibles en el portal relacionados con la consulta.

  • Fiscal effects of the minimum wage in Colombia

    Publicación |
    Abstract

    Using a computable general equilibrium model calibrated for 2019, shocks of various characteristics to the minimum wage are simulated to establish the effects on the nation's fiscal accounts. This document is a pioneer in that analysis. The evidence suggests adverse effects of…

  • Dynamics of subnational and national fiscal rules

    Publicación |
    Abstract During 1997-2003, after the strengthening of decentralization, a set of subnational fiscal rules were implemented and in the years 2011 and 2021 national fiscal rules were established in Colombia. This document evaluates compliance with these rules at the different levels of government…

  • Twin deficits in Colombia: Exist? What causes what? Which is the degree of impact?

    Publicación |
    Abstract The objectives of this paper are to analyze for Colombia if there is a relationship between the public saving-investment imbalance and the external imbalance with annual data from 1970 to 2019 and, if there is one, evaluate what causes what and estimate the impact of a…

  • Timing and duration of inflation targeting regimes

    Publicación |

    Central banks in G7 countries shifted to unconventional policy measures in the aftermath of the Financial Crisis, when faced with economic slack, financial instability and fiscal trouble. This shift ended a spell of rules-based time consistent monetary policy that started in the mid-1980s. I…

  • Towards a Framework for Macroeconomic Analysis in an Emerging Market Economy

    Publicación |

    We develop a small open economy model with sectorial balance sheets that are exchange rate exposed and with sectorial stock and flow consistency. The model is perturbed by a shock to investor sentiment and a sudden stop to capital inflow. It is used to evaluate the claims that usually back the…

  • The shock-absorber role of the internal public debt in Colombia, 1923 – 2003

    Publicación |

     The hypothesis that the internal public debt has played the role of shock absorber in Colombia since 1923 is modelled. 1923 was an important landmark in the history of Fiscal and monetary reforms in Colombia during the twentieth century. The econometric results offer a strong support for…

  • Capital Flows and Monetary Policy

    Publicación |

    Capital inflows and outflows often remind policymakers of the monetary policy “trilemma” and the several associated dilemmas. To tackle these dilemmas, an equilibrium model of capital flows is proposed. The model captures bouts of capital inflows and outflows with shocks to the emerging-market…

  • Fiscal Policy Throughout the Cycle: The Colombian Experience

    Publicación |

     

  • Some styilized facts on public finance in Colombia since the first Kemmerer mission (1923)

    Publicación |

    his paper surveys some facts relevant for the understanding of the Colombian experience with public finance and debt since 1923. The stylized facts are classified in three groups as follows: first, facts associated with the dependence of the economy on the external sector; second, facts which…

  • Budget Deficit, Money Growth and Inflation: Evidence from the Colombian Case

    Publicación |

    Evidence of the causal long-term relationship between budget deficit, money growth and inflation in Colombia is analyzed in this paper, considering the standard (M1), the narrowest (M0-Base) and the broadest (M3) definitions of money supply. Using a vector error correction (VEC) model with…