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The Cost of Collateralized Borrowing in the Colombian Money Market: Does Connectedness Matter?

Under the view that the market is a weighted and directed network (Barabási, 2003), this document is a first attempt to model the Colombian money market within a spatial econometrics framework. By estimating two standard spatial econometric models, we study the cost of collateralized borrowing (...

A Proposal on Macro-prudential Regulation

This paper assesses the choice of different regulatory policy instruments for crisis management and prevention.