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  • A Structural Model to Evaluate the Transition from Self-Commitment to Centralized Unit Commitment

    Publicación |

    We introduce a dispatch model of Colombia's independent system operator (XM) in order to study the relative merits of self-commitment vs. centralized unit comment.  We capitalize on the transition that took place in 2009 from self-unit commitment to centralize unit commitment and use data…

  • Determinants of Interest Margins in Colombia

    Publicación |

    This paper analyzes the determinants of interest margins in the Colombian Financial System. Based on the model by Ho and Saunders (1981), interest margins are modelled as a function of the pure spread and bank-specific institutional imperfections using quarterly data for the period 1994:IV-2005:…