Bogotá, Colombia

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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...

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

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...

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...

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...

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

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...

¿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.

“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...

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