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The opinions expressed in this document are those of the authors and do not necessarily reflect the views of Banco de la República or its Board of Directors..   ABSTRACT  

Autobiographical notes by Hans SitarzHans Sitarz (1889-1958) was a European trader and banker who lived most of his life in Latin America and the United States. Through this publication, excerpts from his personal annotations become available for the first time to a broad public. This was an…

In this edition of Elementos de Hacienda Pública (Elements of Public Treasury), the work of the lawyer and politician Clímaco Calderón from Boyacá, initially published in 1911 by the Imprenta de La Luz in Bogotá, the spelling prevailing at the time was preserved. For example, the Spanish…

In Colombia, agreements are hard to reach. However, there was consensus in the National Constitutional Assembly, among the participants from different ideologies and parties, on the advisability of comprehensively reforming Banco de la República and turning it into an independent central bank. The…

Foreword written by Mauricio Villamizar‑Villegas and Lucía Arango‑LozanoMonetary policy is a fascinating subject that is always at the center of economic discussions, whether in classrooms, media headlines, or everyday conversations. However, understanding it in depth requires more than a…

This book is considered to be a significant contribution to understanding the economic history of Colombia in the first half of the 20th century. Leading analysts who have examined the 1900-1940 period cite it as an essential source for their research. Despite its relevance, this text has not been…

Interested in exploring trade possibilities with Colombia, the Department of Commerce sends Mr. P. L. Bell to study the situation of agriculture, industry, mining, and commerce in Colombia. It seems that he was in the country in 1918 and 1919. The report was published in 1921.

This essay aims to review the main economic writings by Rafael Núñez and analyze his economic thought. Thus, it aims to focus on the historic role of Núñez as an economist rather than a statesman or as the leader of the period known as "Regeneración." By way of introduction and as a frame of…

“El Estado General de todo el Virreynato de Santafé de Bogotá de 1794" (Overview of the Viceroyalty of Santafé de Bogotá, 1794) is a map of a land far away in time, the viceroyalty of the Nueva Granada at the end of the 18th century. In this contemporary compendium, historians and curious readers…

This compilation contains a sample of the types of proposals and reflections on monetary issues that occurred in the country during the first republican century. It includes projects to establish public and private banks, diagnoses of the country's monetary problems, considerations about the…

In this digital book, Banco de la República (the Central Bank of Colombia) makes available to researchers and libraries of the country all the Colombian memoirs of taxes and treasury published in the 19th century. It is a bibliographic tool that we hope will be extremely useful for analysts,…

This volume gathers several texts on the economic situation of the Nueva Granada in the final years of the colonial period. Economics was not yet an independent discipline, and these documents were written, as well as those by other Spanish or American financial experts at the time, to comply with…

This book is the reissue of the report by the Book Misión de Empleo (Employment Mission, in English), convened in 1985-1986 by the administration of President Belisario Betancur. The Mission understood its task as the comprehensive analysis of all the problems affecting Colombia's working…

ForewordGender equality implies that men and women exercise the same rights and have equal opportunities in health, education, employment, and, in general, in all areas of life. Gender inequalities often affect women and reflect a failure to uphold their human rights, which, in turn, hinders…

Since: 1967

AbstractWe evaluate the returns to signaling occupation-specific skills using unique administrative data from a nationwide certification program in Colombia. The program certifies skills and issues three certificates: basic, intermediate, and advanced. We use regression discontinuity…

AbstractWe study the effect of macroeconomic announcements surprises on Colombian treasury bond spot rates in the medium term. For this, we employ a two-step regression approach proposed by Altavilla, Giannone and Modugno (2017), which takes into account the high frequency response to these…

Abstract This document presents a Gaussian Affine Term Structure Model (GATSM) of the zero-coupon public debt curve issued locally by the Colombian Government, adopting the methodological approach of Hamilton and Wu (2012) to solve the problems of identification and instability in the estimation…

For 2017, it was found that most imports were destined for intermediate consumption, especially for the manufacturing and trade sectors, and that these sectors, therefore, may be the most affected by changes in non-tariff measures and the value of imported goods. 

The results are relevant for future discussions on climate policies, as they indicate that carbon taxes will be effective but probably more regressive than previously thought.

The increase in stranded asset risk, as implied by the Paris Agreement, correlates with a 46% decrease in bank credit to fossil fuel companies relative to other economic sectors.

AbstractThis study aims to establish a comprehensive linkage between CO2 emissions and the composition of energy sources, economic growth, and reforestation, thereby shedding light on their intricate connections in Colombia over the period 1970-2018. First, we use different types of…

Nuestros resultados muestran que la existencia de subsidios implícitos ocasiona que los individuos prefieran estar en el actual sistema privado mientras se cotiza, pero en el público para pensionarse.

Forecast evaluation measures support the implementation of this method, and the results show a reduction in the error of inflation forecasts across various time horizons.