Servicios

Most macroeconomic labor literature on estimating matching functions does not consider spatial spillover effects. However, job search and vacancy-filling processes often involve neighboring locations, as local workers can search for and fill vacancies in nearby labor markets. 

This paper analyzes whether the policy of VAT exemption days, implemented in Colombia between 2020 and 2022 for some products and merchandise lines, had a positive effect on the consumption of such exempted goods.

Under the view that the market is a weighted and directed network (Barabási, 2003), this document is a first attempt to model the Colombian money market within a spatial econometrics framework. By estimating two standard spatial econometric models, we study the cost of collateralized borrowing (i.e…

AbstractMobile wallets replicate physical wallets on a mobile device, in which users can store different payment instruments (e.g., cards, transfers) to make mobile payments. As the mobile wallet is adopted, a mobile payment scheme emerges, with its users as elements in a network of…

Abstract: This paper employs network analysis to study world trade from 1995 to 2014. We focus on the main connective features of the world trade network (WTN) and their dynamics. Results suggest that countries’ efforts to attain the benefits of trade have resulted in an intertwined network…

RESUMEN NO TÉCNICO‘Retornos de la capacitación para el trabajo en Colombia: evidencia basada en la Encuesta Social Longitudinal’  

The most recent episode of market turmoil exposed the limitations resulting from the traditional focus on too-big-to-fail institutions within an increasingly systemic-crisis-prone financial system, and encouraged the appearance of the too-connected-to-fail (TCTF) concept. The TCTF concept…

We set a dynamic stochastic model for the interbank daily market forfunds in Colombia. The framework features exogenous reserve requirements and requirement period, competitive trading among heterogeneouscommercial banks, daily open market operations held by the Central Bank(auctions and window…

Este documento evalúa el Proyecto de Acto Legislativo aprobado en su sexto debate, el cual busca aumentar los recursos transferidos a las regiones a través del Sistema General de Participaciones (SGP). Desde una perspectiva histórica, el sistema de transferencias a los territorios se fortaleció con…

AbstractThis study assesses the impact of housing provision in a rural area of a developing country. It examines a government program that delivered prefabricated houses to households whose dwellings were destroyed by flooding caused by the breach of the Canal del Dique in Santa Lucía, Colombia, at…

AbstractCatatumbo is a region located in northeastern Colombia on the border with Venezuela, which has historically been the scene of waves of violence. In recent years, it has established itself as one of the areas with the largest coca cultivation in the country. This situation has generated…

ApproachThis study examines rental costs across various Colombian cities to understand their contribution to the cost of living and their recent evolution. A comparative index is constructed to measure price differences between cities, adjusting for housing quality and characteristics so that…

ApproachThis study analyzes the agricultural credit system in Colombia, with a particular focus on access to financing by small-scale rural producers. It examines the policies of the National Agricultural Credit System (SNCA), the financial instruments managed by the Agricultural Sector Financing…

FocusAlthough Santander continues to rank among the departments with the highest gross domestic product (GDP) per capita in Colombia, in recent years it has shown a relative lag in its economic and social performance. In light of these trends, the purpose of this document is to examine the economic…

Freely Convertible Currencies

  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 October of this year, in…

Can technological misallocation generate financial frictions? We build a theoretical model with testable implications, in which the misallocation between R&D and production activities generates borrowing constraints. The investor offers the innovator a rent that is contingent to the success of…

In the last years, there have been a series of changes related to global trends in the supply of financial services. These trends include economic integration, technological change, increased competition, disintermediation, deregulation and financial crises.1 Colombia has not been apart from this…

Artículo publicado en: Emerging Markets Finance and Trade (M.E. Sharpe), vol. 48, num. 5, pp. 66-77, 2012.

Artículo publicado en: Agribusiness, vol. 29, num. 4, pp. 497-508, 2013. doi: 10.1002/agr.21319.  

Artículo publicado en: Economics and Human Biology, vol. 11, pp. 416–425, 2013

Artículo publicado en: Emerging Markets Finance and Trade (M.E. Sharpe), vol. 48, num. 4, pp. 50-66, 2012.  

Artículo publicado en: International Economic Journal (Taylor and Francis), vol. 26, num. 4, pp. 655-671, 2012.  

Artículo publicado en: American Journal of Agricultural Economics, vol. 94, num. 1, pp. 153–173, 2012.  

Artículo publicado en: Financial Markets and Portfolio Management (Springer), vol. 27, núm. 4, pp. 365-379, 2013.