Servicios
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Presentación realizada durante el Seminario Macro Anif
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Presentado por: Daniel Osgood (Lead Scientist, Financial Instruments Sector Team, Research Scientist International Research Institute for Climate and Society (IRI) The Earth Institute at Columbia University)
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Presentado por: Xavier Freixas (Profesor, Departamento de Economía, Universitat Pompeu Fabra, Barcelona)
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Apart from the functions exercised as a member of the Board of Directors, the Governor (General Manager) is the legal representative of the Bank and has responsibility for its administration. Accordingly, the Governor may execute directly, or direct the execution of the policies and…
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Provide guidance and recommendations on the Bank’s economic policy strategies, so as to assist decision-making by the Board of Directors.
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The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
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On 9 November 2016 Banco de la República started circulating the new $5 thousand-peso banknote, the fourth of the new family of banknotes, which will circulate simultaneously with the current one. Its predominant color is brown. The obverse features the image of the poet José Asunción Silva, a Puya…
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As per law and according to the guidelines defined by the Board of Directors, the Administrative Council and the Governor (General Manager), the following are the responsibilities of the Office of the Deputy Executive Governor.
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This paper presents a novel monthly dataset of job vacancies in Bogota between 1960 and 2010. The dataset was constructed by counting the number of help-wanted announcements published in the most important newspaper with national circulation—namely, El Tiempo. We describe the methodology used to…
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On 19 August 2016, Banco de la República started circulating the new 50 thousand peso banknote, the third of the new family of banknotes. This banknote will circulate simultaneously with the current ones. The obverse shows the image of Gabriel Garcia Marquez, the Nobel Laureate in Literature (…
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Guide and oversee corporate support functions related to human resources, technology, logistics, financial services, safety and security, infrastructure and health management.
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The Center for Regional Economic Studies (CEER) was Banco de la República’s first effort to decentralize economic research, which had been concentrated at the head office in Bogotá. This first regional center was established in 1997 at the Cartagena branch of the Bank. Initially, it was known as…
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A central bank is the institution that issues and administrates legal currency and exercises the function of banker of banks. Furthermore, it controls the country’s monetary system (currency), credit system (interest rates) and foreign exchange system (foreign exchange rates). Its principal…
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Abstract
This study characterizes the microstructure of the spot and forward peso-dollar exchange markets in Colombia, with the objective of studying the main dynamics and interactions of all the sectors which are participating in these markets. Additionally, it seeks to identify the economic…
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The most recent global financial crisis (2008-2009) highlighted the importance of systemic risk and promoted academic interest to develop a wide set of warning indicators, which are mechanisms to identify systemically important institutions and global systemic risk indexes. Using the methodology…
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The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
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This paper provides evidence of short-run predictability for the real exchange rate by performing out-of-sample tests of a forecasting equation which is derived from a consumption-based asset pricing model. In this model, the real exchange rate is predictable as a result of the implications of…
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As per the Code of Administrative Procedure and Administrative Litigation, specifically Article 8, Section 8, a circular was released today for comments on the amendments made to External Regulatory Circular DCIN-83 following implementation of the new Foreign Exchange Information System. To access…
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This paper presents a methodology to estimate the intraday liquidity that systemically important entities (SIE) need to fulfill all its obligations in a timely fashion, when a simulated failure-to-pay from its main liquidity supplier by discretionary concepts of payment occurs. Using the Bank of…
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We use a dynamic factor model proposed by Stock and Watson [1998, 1999, 2002a,b] to forecast Colombian inflation. The model includes 92 monthly series observed over the period 1999:01-2008:06. The results show that for short-run horizons, factor model forecasts significantly outperformed the auto-…
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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…
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This paper explores the relationship between central bank independence and inflation in Latin America, using as a case study the experience of Colombia (1923-2008). Since its creation, in 1923, Colombias central bank has undergone several reforms that have changed its objectives and degree of…
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In this paper, we propose a methodology for calculating a leading index of the economic activity based on a modification of Stock and Watson’s (1989, 1991, 1992) approach. We use Kalman filter techniques for estimating the state space representation of the leading index model. The methodology is…
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