(Bogotá D.C., Cundinamarca)
News and Publications
Below are the contents available on the site related to the query.
- Noticias |Bogotá
- Publicación |AbstractI propose a general equilibrium model with a quasi-hyperbolic discounting government that optimally decides upon using creative accounting in order to evaluate a balanced budget rule and a debt rule.
- Publicación |Abstract We investigate the impact of fiscal expansions on firm investment by exploiting firms that have multiple banking relationships. Further, we conduct a localized RDD approach and compare the lending behavior of banks that barely met and missed the criteria of being a…
- Publicación |Abstract How does the expansion of domestic banks in international markets affect the bank lending channel of monetary policy? Using bank-firm loan-level data, we find that loan growth and loan rates from international banks respond less to monetary policy changes than domestic…
- Publicación |
After being stagnant for the first half of the year, employment grew again in July and August. This upturn in employment has been particularly marked in the intermediate municipalities and rural areas. Going by segments of national employment, non-wage employment—which had slowed down in…
- Noticias |
After being stagnant for the first half of the year, employment grew again in July and August. This upturn in employment has been particularly marked in the intermediate municipalities and rural areas. Going by segments of national employment, non-wage employment—which had slowed down in…
- Publicación |Abstract
This paper describes the recent behavior of some indicators of the Colombian educational system considering the effect of the pandemic. In addition, the impact of a pilot alternation plan, executed between September and December 2020, on the results of the Saber 11…
- Publicación |Abstract
Since July 2021, Banco de la República strengthened its forecasting process and communication instruments, by involving predictive densities in the projections of its models, PATACON and 4GM. This paper presents the main theoretical and empirical elements of the predictive density…
- Publicación |Abstract
In 2014, Colombia implemented a policy that added flexibilization to labor contracts for part-time workers that reduced the quasi-fixed costs of employing formal workers. We find that the reform increased the probability of entering the formal sector within the targeted population:…
- Publicación |Abstract
How much of the changes in the exchange rate is passed through to inflation is a question of main interest to the monetary authority, investors, the real sector, and the government itself.
- Publicación |Abstract
Fiscal sustainability in five of the largest Latin American economies is examined before and after the COVID-19 pandemic. For this purpose, the DSGE model in Bi (2012) and Hürtgen (2020) is used to estimate the Fiscal Limits and Fiscal Spaces for Peru, Chile, Mexico…
- Publicación |Abstract
This paper assesses whether the expansion of online job vacancies leads to a more efficient labor market. We provide compelling evidence that the increase in online job vacancy penetration in Colombia has had an enhancing effect on the labor market's…
- Publicación |AbstractWe analyze the effects of population aging in the next decades on the Colombian pension system and on several macroeconomic variables. We also consider the impact of several reforms that are gradually implemented in the economy (increasing the retirement age, reducing the replacement rate,…
- Publicación |Abstract This document offers an exercise that quantifies on the Colombia CPI the maximum possible impact in accounting terms of some price reliefs decreed by the national government. This impact would not necessarily coincide with the official CPI figures, due to the presence of multiple…
- Publicación |Abstract We study the interdependence of FX and Treasury Bonds (TES) markets in Colombia. To do this, we estimate a heteroskedasticity identified VAR model on the returns of the COP/USD exchange rate (TRM) and bond prices, as well as event-analysis models for return volatilities, number of…
- Publicación |AbstractExtreme rainfall events are expected to become more frequent and more intense in the future. Because their mitigation is a challenge and their cost to human life is large, this paper studies the impact of preemptive investment against natural disasters on the future occurrence of landslides…
- Publicación |Abstract
During the last two decades, the use of fiscal rules has increased significantly around the world. Although international evidence has highlighted some benefits from its implementation, the experiences of Latin America in the mplementation and the results have been…
- Publicación |Abstract
Rural schools are usually behind in terms of learning, and part of this could be related to geographical isolation. We explore this hypothesis, assessing the effect of distance between rural schools and local governments on learning in Colombia. We use spatial discontinuous regression…
- Publicación |Abstract
Economic policy decision-making requires constantly assessing the state of economic activity. However, this is not an easy task: offcial figures have significant lags, and the timely information is usually partial and has different frequencies.
- Publicación |Abstract This document describes the evolution of the liquidity conditions of the Colombian public debt market, using a set of tools that capture several liquidity characteristics or dimensions. An indicator is proposed, which combines all these tools incorporating a broad set of information…
