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Author(s) / Editor(s): 
  • Ana María Tribín-Uribe
  • Achyuta Adhvaryu
  • Cesar Anzola-Bravo
  • Oscar Ávila-Montealegre
  • Leonardo Bonilla-Mejía
  • Juan Carlos Castro-Fernández
  • Luz A. Flórez
  • Ánderson Grajales-Olarte
  • Alexander Guarín
  • Franz Hamann
  • Didier Hermida-Giraldo
  • Gaurav Khanna
  • Francisco Lasso-Valderrama
  • Carlos Medina
  • Ligia Alba Melo-Becerra
  • Juan C. Mendez-Vizcaino
  • Leonardo Fabio Morales
  • Juan J. Ospina-Tejeiro
  • Andrea Otero-Cortés
  • José Pulido
  • Jorge Enrique Ramos-Forero
  • Mario A. Ramos-Veloza
  • Jorge Tamayo
  • Santiago Velásquez

Migration Waves from Venezuela in Colombia: phenomenon characterization and analysis of the macroeconomic effects

Publicado el: 
Friday, 9 October 2020
Abstract

The following study contributes to the study of the migratory phenomenon from Venezuela in Colombia by analyzing its effects and challenges in the adjustment of the economy. This article is divided into two modules. In the first one, we describe and characterize the migrant population in socio-economic and demographic terms and we explore their consumption and savings patterns. In the second module we study the implications of the migratory shock in three main spheres (i) the labor market, mainly we study the effects on the occupancy, participation, unemployment and formality rates (ii) the fiscal impact it represents to the nation and, lastly, (iii) its effect on the macroeconomic variables. In particular, we analyze the monetary policy response to the shock and the reaction of the Gross Domestic Product (GDP) gap and the Phillips curve in light of scenarios of increasing migrant flows.