Colombia

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The Rise in Female POarticipation in Colombia: Fertility, marital status or education?

Colombia has experienced a secular increase in the labor participation of urban women, going from nearly 47% in 1984 to 65% in 2006. We decompose the evolution of participation into changes in the composition of the population and changes in the participation rates by groups (defined according...

Too Late but Profitable: Railroads in Colombia during 1920-1950

During the 1920s, the Colombian economy experienced the highest rate of growth in its history. The economic reforms of 1923 (the central bank, gold standard, banking legislation, fiscal reorganization), the coffee boom, and the unprecedented influx of foreign capital were the driving forces...

Understanding Comsumption in Colombia

One of the principal issues of Colombian macroeconomic policy in the 1990s has been the deterioration of private savings (Figure 1). The decline in the private saving rate was usually related to consumers real expenditure, which grew by an average of 3.9% in the period 1991-1993, compared to 1.9...

Wage Adjustment Practices and the Link between Price and Wages: Survey Evidence from Colombian Firms

The aim of this paper is to explore firms wage adjustment practices in the Colombian formal labor market; specifically, the timing and frequency of wage increases, as well as the link between wage and price changes. To this end, we use an ad hoc survey of 1,305 small, medium and large firms...

Wage-setting Decisions on Newly Hired Employees: Survey Evidence from Colombian Firms

This paper uses a survey on wage formation that was applied to 1,305 Colombian firms to study wage-setting decisions with respect to newly hired employees. The Colombian case is interesting, since the country’s labour market performance, especially its unemployment rate and level of informality...

Why Justice is Unresponsive to Crime: The Case of Cocaine in Colombia

Why justice is unresponsive to crime: Why justice is un responsive to crime: The case of cocine in Colombia


Why No Hyperinflation in Colombia? On the Determinants of Stable Economic Policies

Imagine a country whose inflation rate has recently surpassed 300% a year, and during some months even surpassed the 50% level that was estabilished as a benchmark for the definition of Phillip Cagan's classic study on the subject. This rapid inflation led to a devaluation of the local currency...

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