Ospina-Tejeiro, Juan José
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- Publicación |Looking ahead, monitoring financial stability, macroeconomic (dis)equilibria, and the space for active economic policy—with inflation close to the target and sustainable public finances—are necessary conditions to successfully face future adverse shocks.
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One of the central inputs for Banco de la República’s macroeconomic forecasting models is the long-term rate of growth of the economy. In technical terms, this is known as steady-state growth, defned as the growth rate of the economy in the absence of new shocks, also understood as the reference…
- Publicación |Abstract
Fiscal policy and monetary policy are intricately connected, as government policies influence various macroeconomic variables, affecting prices and, consequently, Central Bank decisions. To elucidate this relationship, this document outlines the model employed by Banco…
- Publicación |“… the costs of informality are higher: workers have limited social protection, businesses are less productive, and the state has reduced capacity to collect taxes and provide public goods. This leads to inefficient allocation of resources, which negatively impacts the country's economic growth.”
- Publicación |Este documento evalúa el Proyecto de Acto Legislativo aprobado en su sexto debate, el cual busca aumentar los recursos transferidos a las regiones a través del Sistema General de Participaciones (SGP). Desde una perspectiva histórica, el sistema de transferencias a los territorios se fortaleció con…
- Publicación |Transparency is often emphasized as a key element for central bank independence and the effectiveness of monetary policy. Between 2018 and 2019, the Central Bank of Colombia (Banco de la República) undertook a significant overhaul of its monetary decision-making process, which led to significant…
- Publicación |Approach
Since the enactment of Law 100 of 1993, the health care system in Colombia has undergone significant transformations that have resulted in improvements in health indicators, expanded coverage, and financial protection for the population.
- Publicación |Approach
At the end of each year, Colombia follows a negotiation protocol that leads to an increase in the minimum wage either by agreement between the parties or, in the absence of such agreement, by government decision. Despite evidence of its adverse effects on the labor market (formal…
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In the last four years, Colombia has faced some of the events that have had the greatest impact on economic performance in more than a century. The international price of oil fell to less than a third of its value between June 2014 and January 2016, and again between September 2018 and April…
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