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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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Although the existence of wage gaps that favor men over women is well known and is explained by multiple factors, there is little discussion of what happens in the opposite case when the women in the households earn more money than the men. In particular, international studies suggest that…
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Between mid-2014 and late 2015, the Colombian peso experienced a depreciation that took the price of the US dollar from COP 1,900 to COP 3,000. The pass-through of such exchange rate shocks to prices in the economy is a crucial issue for the monetary authority, as it reflects the sensitivity of…
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Inflation expectations correspond to what economic agents believe inflation will be in the future. This is a variable that is relevant to monetary policy and to the general performance of the economy since it influences how the prices for goods and services, wages, and the prices of financial…
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On May 18 and 19, in conjunction with the International Economic Association (IEA), the Bank of Spain, and the United Nations Development Program (UNDP), Banco de la República held a virtual seminar entitled Pathways to Gender Equality in Central Banks, 1featuring academic papers by researchers…
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The Internationalization Mission convened by the National Government with the participation of renowned international experts, the technical secretariat of the National Planning Department (DNP in Spanish), and other entities1 delivered its conclusions in August 2021.
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In an article titled “Job Displacement, Credit and Crime in Colombia” published in the international academic journal American Economic Review: Insights by senior economists Carlos Medina and Christian Posso from Banco de la República (the Central Bank of Colombia) estimates the effects of…
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Payroll taxes are a key tool for financing public goods and benefits for workers. However, they may also increase labor costs for formal employers, discouraging formal job creation and shifting labor to the informal sector. The magnitude of these negative effects is uncertain and depends on several…
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A recent research paper by Carlos Medina and Christian Posso, senior economists at Banco de la República (the Central Bank of Colombia), studies the long-term effects of the Familias en Acción program (FeA, Families in Action), Colombia's conditional cash transfer program. This type of program has…
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As part of the accountability process required by law, the Board of Directors of Banco de la República (the Central Bank of Colombia) submits twice a year a report to Congress on the situation and outlook of the Colombian economy, along with the results of its management.
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A Constitutional Reform Bill is currently under consideration in the Congress of Colombia that would substantially increase the percentage of the nation's current revenues to be transferred to territorial entities. This proposal implies a transfer of responsibilities and competencies from the…
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A Constitutional Reform Bill is currently under consideration in the Congress of Colombia that would substantially increase the percentage of the nation's current revenues to be transferred to territorial entities. This proposal implies a transfer of responsibilities and competencies from the…
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An understudied aspect of healthcare systems is the impact of the quality of the medical staff on the health performance of system users. A research paper in which Christian Posso (senior economist at Banco de la República) participated, and whose results were recently published in the series…
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An understudied aspect of healthcare systems is the impact of the quality of the medical staff on the health performance of system users. A research paper in which Christian Posso (senior economist at Banco de la República) participated, and whose results were recently published in the series…
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Followers of monetary policy and inflation are familiar with the decisions made by the Board of Directors of Banco de la República regarding the monetary policy interest rate (MPR), which experiences periods of increase and decrease, always aiming to keep inflation around its 3.0% target. This rate…
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