Toro-Córdoba, Jorge Hernán

Inflation expectations correspond to what economic agents believe inflation will be in the future. This is a variable that is relevant to monetary policy and to the general performance of the economy since it influences how the prices for goods and services, wages, and the prices of financial…

Banco de la República's Financial Stability Report of the first semester of 2021 showed that during the first six months of 2020 (in a recessionary context derived from the global pandemic) total…

Scientific evidence has shown that extreme weather events, including excessive precipitation and droughts, are becoming longer and more severe due to the effects of climate change. If agricultural producers do not adjust to this new reality, produce shortages and higher food prices can be…

As part of its efforts to monitor the country's economic activity, Banco de la República conducts monthly surveys among businessmen and representatives of productive sectors in all regions of the country. The results of these qualitative surveys are aggregated into a balance, known as the…

The COVID-19 pandemic and the policy response to mitigate its effects resulted in a substantial deterioration in the finances of the Central National Government (CNG). In 2020, the CNG deficit stood at 7.8% of the Gross Domestic Product (GDP), more than three times higher than in 2019. This was…

This article addresses the question: Has the delay in the provision of transport infrastructure in Colombia, caused in part by historically low levels of investment, been a significant obstacle to its economic growth and regional and international integration? The…

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…

The extern

Colombia’s economy expanded by 2.7% in 2018, gaining momentum after a period of deceleration in which the annual growth rate fell from 4.7% in 2014 to 1.4% in 2017. While growth was still below potential (estimated around 3.3%), the uptick in 2018 suggests the groundwork for Colombia’s economic…

Global economy continued to recover in the fourth quarter of 2013, thanks to the added momentum in the developed economies, especially the United States. In the euro area, the economic indicators pointed to low, but positive economic growth. Growth in the major emerging countries of Asia and…

External demand during the first half of 2013 was somewhat weaker than expected. In the United States, our largest trading partner, the increase in private spending is being offset partly by fiscal consolidation, which has led to a slight decline in the forecast for that country’s growth. The…

Although the existence of wage gaps that favor men over women is well known and is explained by multiple factors, there is little discussion of what happens in the opposite case when the women in the households earn more money than the men. In particular, international studies suggest that…

This edition of the Governor’s Report presents an assessment of the country’s economic situation and its prospects. We argue that the Colombian economy remains stable despite strong international shocks and the recent crises in countries like Argentina and Turkey. However, the country…

El Borrador de Economía titulado ‘Efectos asimétricos de choques de términos de intercambio sobre la inversión transable y no transable: El caso colombiano’, analiza las consecuencias para Colombia del fuerte choque de términos de intercambio que ha enfrentado el país desde mediados del 2014,…