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Economic observers who monitor monetary policy often compare the timing of interest rate increase or decrease cycle decisions across countries to determine which countries were ahead and which were behind in their decisions. This might be correct if the countries had identical economic performance…
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The health crisis resulting from the COVID-19 pandemic compelled the implementation of measures to curb the spread of the disease. These measures, in turn, impacted both companies' decisions regarding staffing and workers' choices in the labor market. The uncertainty surrounding the duration of the…
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The COVID-19 pandemic and the policy response to mitigate its effects resulted in a substantial deterioration in the finances of the Central National Government (CNG). In 2020, the CNG deficit stood at 7.8% of the Gross Domestic Product (GDP), more than three times higher than in 2019. This was due…
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As part of its efforts to monitor the country's economic activity, Banco de la República conducts monthly surveys among businessmen and representatives of productive sectors in all regions of the country. The results of these qualitative surveys are aggregated into a balance, known as the Regional…
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The Colombian tax system contains multiple reliefs and discounts and simultaneously supports a high degree of evasion. This implies that the statutory or nominal rates established by the law are an imprecise indicator of the actual tax burden on taxpayers, whether they are consumers, individuals,…
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When citizens of a developing country decide to emigrate in search of a better future, their lives and those of their families are not the only ones affected. This decision can also have an impact on different aspects of the country of origin , such as income, inequality, the quality of its…
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In recent years, the practice of considering environmental, social, and corporate governance (ESG) factors in investment decision-making has become more widespread. While the term ESG is used interchangeably with sustainable or responsible investing, it denotes an investment approach in which the…
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There is a broad consensus in the scientific community regarding the risks associated with climate change on the economic activity of most countries in the world. Such risks may be physical or transitional. Physical risks are related to the gradual increase in temperatures around the globe and the…
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During the 20th century, women in Colombia achieved an important milestone by significantly increasing their participation in the labor market, especially in the second half of the century. As can be seen in Graph 1, female labor participation (the fraction of working-age women working or looking…
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Tax authorities in both advanced and emerging economies have resorted to tax wealth as a tool to increase tax revenues, replace other taxes, promote the use of productive capital, and reduce wealth inequality.
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Chronic noncommunicable diseases (NCDs) are the leading cause of mortality in the world. These diseases are mainly associated with older age groups and, therefore, their financial burden is expected to increase progressively due to the aging of the population and risk factors derived from unhealthy…
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A paper recently published in the Working Papers on Economics, number 1267, analyzes some aspects of economic and financial education in Colombia using a survey that follows the methodology known as the “Big Three.” This methodology was developed by experts Annamaria Lusardi and Olivia Mitchell in…
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A paper recently published in the Borradores de Economía series (# 1267) analyzes some aspects of economic and financial education in Colombia using a survey that follows the methodology known as the “Big Three.” This methodology was developed by experts Annamaria Lusardi and Olivia Mitchell in…
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A recent paper from the journal Essays on Economic Policy (ESPE in Spanish) by Banco de la República (the Central Bank of Colombia) deals with the financial and fiscal aspects of the Colombian health care system and includes a chapter focusing on the macroeconomic risks it faces.
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Since the second half of 2021, food prices in Colombia grew on average 12 percentage points more than in the other OECD countries and seven percentage points more than in the rest of Latin America.
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Foreign direct investment (FDI) not only plays a very important role as a source of external financing, but also allows for technology transfer, access to international markets, and the efficient reallocation of productive factors. All of this offers benefits to recipient economies in the form of…
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Since the COVID-19 pandemic, Colombia has seen a significant increase in the use of electronic payment channels. This blog presents detailed information on the evolution of these payment channels and their characteristics, identifying the main gaps observed in the country.
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In Colombia, there is a gap in the quality of education between urban and rural households, which is caused by multiple factors. On the one hand, rural families have, on average, less education, and it is also more common for children growing up in rural areas to spend more time working. On the…
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In a recently published blog on Banco de la República’s profits, it was shown that in 2023 these mainly came from the yield of foreign reserves, which in the last 10 years reached an average share of 84% of the Bank’s assets.
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In a recently published blog on Banco de la República’s profits, it was shown that in 2023 these mainly came from the yield of foreign reserves, which in the last 10 years reached an average share of 84% of the Bank’s assets. The importance of foreign reserves in the Bank’s equity and origin of its…
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Traditional indicators related to the financial situation of firms such as insolvency, delinquency, and asset impairment, are usually used to assess the fragility of the business sector.. However, there are other alternative indicators to study sectoral productive activity that are not usually…
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A recent research paper, authored by Jair Ojeda from Banco de la República (the Central Bank of Colombia), published in the Working Papers on Economics series, examines the impact of remittances from abroad on housing prices in Colombia. The study focuses on the analysis of remittance flow…
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Hard-discount stores are a retail innovation that has brought significant changes to Colombia’s commercial landscape. Operating under well-known brands such as D1 and ARA, these stores are larger than neighborhood shops, but smaller than traditional supermarkets. They offer a limited assortment—…
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In March 2020, the Covid-19 pandemic disrupted educational activities usually carried out in person. To mitigate the cost of closing educational institutions, governments and school and university administrators chose to maintain training processes through virtual tools and other means. However,…
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A box in the most recent Monetary Policy Report of Banco de la República (the Central Bank of Colombia)(only in Spanish) analyzes the recent increase in Colombian import prices, which is illustrated in Graph 1. The graph exhibits dollar price indexes of Colombian imports in FOB (Free on Board) and…
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