Bogotá, Colombia

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Governor’s Presentation of the March 2019 Inflation Report

Governor’s Presentation of the September 2014 Inflation Report (Available only in Spanish)

Governor’s Presentation of the September 2016 Inflation Report

Grading standards under monopolistic provision of education

HANDLING MARKET IMPERFECTIONS IN A SPATIAL ECONOMY: SOME EXPERIMENTAL RESULTS II

Has Monetary Policy Changed? How the Crisis Shifted the Ground under Central Banks

Presentation titled "Has Monetary Policy Changed? How the Crisis Shifted the Ground under Central Banks", 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.

Hedging Alternatives for the Mortgage Stabilization Fund (FRECH): European Cap Options for the Real Interest Rate

The World Bank has proposed an alternative hedging instrument to be offered by the FRECH, instead of the collar-swap currently available. The suggested derivative corresponds to a European Cap option for the real interest rate, which could give greater flexibility to the hedging mechanism,…

HOUSE PRICES AND MONETARY POLICY IN COLOMBIA

HOW CAN TAX POLICIES AND MACROECONOMIC SHOCKS AFFECT THE POOR? A QUANTITATIVE ASSESSMENT USING A COMPUTABLE GENERAL EQUILIBRIUM FRAMEWORK FOR COLOMBIA

How Do You Pay? The Role of Incentives at the Point-of-Sale

This paper uses discrete-choice models to quantify the role of consumer socioeconomic characteristics, payment instrument attributes, and transaction features on the probability of using cash, debit card, or credit card at the point-of-sale. We use the Bank of Canada 2009 Method of Payment…

How does macroprudential regulation change bank credit supply?

Presentation titled "How does macroprudential regulation change bank credit supply?", 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.

HOW EFFICIENT IS PUBLIC SPENDING IN EDUCATION?

How Uncertain are NAIRU Estimates in Colombia?

HOW UNCERTAÍN ARE NAIRU ESTÍMATES ÍN COLOMBÍA?

HOW UNCERTAÍN ARE NAIRU ESTÍMATES ÍN COLOMBÍA?

Human Capital Externalities and Growth

This paper provides evidence of positive externalities in human capital that help to explain divergences in development worldwide. We estimate the supply and demand for human capital using a five-year panel involving 60 countries, covering the period 1980-2000, and found that there exists…

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Identifiability of a coincident index model for the Colombian economy

In this theoretical report, the identifiability property of a coincident index model is studied.  As a result, characterization of the identifiability conditions solves a model specification problem, which was detected in the design of an earlier index for the Colombian economy.   Key words and…

Identification Problems in the Solution of Linearized DSGE Models