Rincón-Castro, Hernán
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- Publicación |Although there is a close relationship between the government’s budget and its fiscal balance, they respond to different objectives, concepts, accounting bases, and measurement methodologies, which makes their understanding, monitoring, and evaluation more difficult.
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Tax authorities in both advanced and emerging economies have resorted to tax wealth as a tool to increase tax revenues, replace other taxes, promote the use of productive capital, and reduce wealth inequality.
- Publicación |Abstract
We study the financial and real effects of a wealth tax reform in Colombia that included a large share of small and medium-sized enterprises (SMEs) as new taxpayers. The tax was introduced in response to a severe weather shock that affected several regions of the country. We use a unique…
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The Colombian tax system contains multiple reliefs and discounts and simultaneously supports a high degree of evasion. This implies that the statutory or nominal rates established by the law are an imprecise indicator of the actual tax burden on taxpayers, whether they are consumers, individuals…
- Publicación |The pass-through of the VAT rate change is much less than proportional and highly heterogeneous.
- Publicación |This document examines the evolution and determinants of portfolio flows in the Colombian economy, which comprises investments on public debt bonds, shares, and private bonds. Structural changes along the last few years owed to either regulatory or market shocks are identified. The international…
- Publicación |Approach
Since the introduction of exchange rate flexibility and the inflation targeting regime in 1999, Banco de la República (BR), Colombia's monetary and exchange rate authority, has intervened assiduously in the foreign exchange market, except in the last five years.
Journal Essays on Economic Policy (ESPE) - Fiscal policy and macroeconomic stabilization in Colombia
Publicación |This docum
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‘Apertura e integración de Colombia a la red mundial de comercio: mucho ruido y pocas nueces’
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The primary objective of this paper is to examine the role of the exchange rate in determining short-and-long-run trade balance behavior for Colombia in a model which includes money and income. That is, the aim is to examine whether the trade balance ¡is affected by the exchange rate and whether…
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Capital controls and intervention in the foreign exchange market are two controversial policy options that many countries have adopted in the past in order to influence the exchange rate and moderate capital flows. Colombia has a long record in the use of these policies with mixed results and…
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Structural VAR and Structural VEC models were estimated for Chile and Colombia, aiming at identifying fiscal policy shocks in both countries between 1990 and 2005. The impulse responses obtained allow the calculation of a peso-for-peso ($/$) effect on output of a shock to public spending and to…
