Bogotá, Colombia

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“Tropical” Real Business Cycles? A Bayesian Exploration

Can frictionless small open economy models driven solely by technology shocks account for business cycles in developing countries? We do not find evidence of it. We build a DSGE model that jointly includes a variety of real perturbations in addition to technology shocks, such as procyclical...

¿How Can Macro-Prudential Policies or Frameworks for Financial Stability Be Designed to Preserve the Credibility of Monetary Policy to Keep Inflation Low? Reflections from a commodity exporting, small open economy

High Level Conference on “Macroprudential Policies to Achieve Financial Stability,” organized by the Banco Central del Uruguay and the IMF.

XIV Seminar of the ESPE Journal Special Edition “Challenges of Fiscal Policy in the face of the Recent Macroeconomic Uncertainty”

 

On the occasion of its fourteenth special edition, Banco de la República´s Ensayos sobre Política Económica (ESPE) journal invites you to the seminar on Challenges of Fiscal Policy in the face of the Recent Macroeconomic Uncertainty. It will take place on the 20th of...

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

What is the fiscal stress in Euro Area? Evidence from a joint monetary-fiscal structural model

Presentation titled "What is the fiscal stress in Euro Area? Evidence from a joint monetary-fiscal structural model", delivered during the Seminar of the EEP Journal (Challenges of Fiscal Policy in the face of the Recent Macroeconomic Uncertainty), organized by Banco de la República at the...

What Drives Business Cycles and International Trade in Emerging Market Economies?

This paper investigates the role of domestic and external factors in explaining business cycle and international trade developments in fifteen emerging market economies. Results from sign-restricted VARs show that developments in real output, inflation and international trade variables are...

Wage Indexation, Inflation Inertia, and the Cost of Disinflation

A Statement of the Colombian Constitutional Court has mandated wage indexation on the basis of past inflation. A simple model with a wage price system, a real block, and an inflation targeting interest rule is calibrated to resemble price setting in the Colombian economy and to analyze the...

WAGE INDEXATION, INFLATION INERTIA AND THE COST OF DISINFLATION. PAGS 67-85

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...

Valuing Morbidity: Acute Respiratory Illnesses in Bogotá, Colombia

Unemployment Rate and the Real Wage Behavior: A Neoclassical Hint for the Colombian Labor Market Adjustment

Unemployment rate and the real wage behavior: a neoclassical hint for the Colombian labor market adjustment Unemployment rate and the real wage behavior:
a neoclassical hint for Colombian labor market adjustment

Truthfulness of Central Bank Announcements

Transmission Mechanisms and Inflation Targeting: The Case of Colombia's Disinflation

Transmission mechanisms and inflation targeting: the case of Colombia’s desinflation

Trade liberalization and regional manufacturing productivity growth: some lessons from Mexico's northern border after 20 years

Presentación realizada durante el seminario de la revista Ensayos sobre Política Económica (ESPE) "Crecimiento desbalanceado, transformaciones estructurales y difusión tecnológica" del Banco de la República en el Auditorio del...

Too Late But Profitable:Railroads in Colombia, 1920-1950

Infrastructure, Society, Economics and Culture: Lessons from the History of Large Technological Systems, Universidad de los Andes, December 5, 2017

Timing and Duration of IT Regimes

Presentation titled "Timing and Duration of IT Regimes", delivered during the Seminar of the EEP Journal (Essays on Economic Policy), organized by Banco de la República at the Events Center of Biblioteca Luis Ángel Arango in Bogotá, Colombia.

Third quarter

The War on Illegal Drug Production and Trafficking: An economic evaluation of Plan Colombia

The Use of Mathematics in Economics and its Effect over a Scholar’s Academic Career

The Stickiness of Colombian Consumer Prices

The price setting behavior of Colombian retailers of goods and services was studied based on a unique dataset containing 12,052,970 individual price reports covering all items in the Colombian CPI from March 1999 to May 2008. The main results are summarized as follows: 1. Colombian consumer...

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