Servicios
|
Abstract
Our study analyzes the impact of debt moratorium policies, possibly the oldest approach to addressing repayment problems. Using Colombian administrative data, we compare firms that narrowly met the criteria for moratoria (eligible firms could not exceed 60 days overdue on…
|
|
Models with an occasionally binding credit constraint have been used to analyze financial crises and previous literature has highlighted that the specific form of this constraint is decisive for policymaking conclusions.
|
|
The results highlight the usefulness of combining machine learning techniques with alternative sources of information to generate timely forecasts that are comparable to those of the market.
|
|
Abstract
This document reviews the potential macroeconomic effects of issuing a central bank digital currency (CBDC) for the use of individuals and businesses. A careful selection of the architecture, and the economic and technological design aspects of this digital form of central bank money that…
|
|
Gran parte de la población carece de las herramientas fundamentales para tomar decisiones económicas y financieras adecuadas, lo cual es crucial para mejorar su bienestar y protegerse frente a choques económicos o inflacionarios.
|
|
AbstractThis paper evaluates the fiscal and macroeconomic effects of some risks faced by the health system. These comprise changes in demographic and morbidity patterns, new medical technologies, inefficiencies in the system and the structure of the labor market. These factors represent a…
|
|
Abstract
Based on monthly disaggregated Consumer Price Index (CPI) item series and macroeconomic series, we explore the advantages of forecast inflation from a disaggregated to an aggregated level by aggregating the forecasts. We compare the performance of this approach with the forecast obtained…
|
|
This document describes the Colombian healthcare system and its main responsibilities, highlighting the roles of insurance and financing, and compares it with other healthcare systems globally.
|
|
This paper empirically examines the effects of international remittances on local house prices. International remittances are one of the main drivers of capital inflows in emerging economies. We consider the salient case of Colombia.
|
|
AbstractThis study follows a novel approach proposed by Angelico et al. (2022) using Twitter to measure inflation perception in Colombia in real time. By applying machine learning techniques, we implement two real-time indicators of inflation perception and show that both exhibit a…
|
|
AbstractWe study the behaviour of three quantitative sample surveys and a non sample inflation expectation report for Colombia. We found that expectations in Colombia; (i) are not strongly, i.e.
|
|
Nowcasting inflation is not only considered an alternative measure of observed inflation, but also a predictor, which allows for constructing inflation forecasts with better performance
|
|
A 1% decrease in payroll costs would increase employment in the formal sector by between 0.5% and 0.9%. This implication is specific to the Colombian context, where the minimum wage is binding for a large portion of formal sector workers, making it likely that formal labor demand drives these…
|
|
Identifying the impact of physicians on health outcomes is a challenging task due to the nonrandom sorting between physicians, hospitals, and patients. We overcome this challenge by exploiting a Colombian government program that randomly assigned 2,126 physicians to 618 small hospitals.
|
|
El efecto del fenómeno El Niño sobre los precios minoristas corre a través de su efecto sobre los costos mayoristas, exclusivamente, y no a través de cambios en la estructura del mercado minorista.
|
|
AbstractWe examine the adjustment of a small, open, emerging market economy (SOEME) to an unexpected increase in the minimum wage using an extended New-Keynesian SOE model that incorporates heterogeneous households, a flexible production structure, and a minimum wage rule. We calibrate the…
|
|
Microcredit plays a relevant role in reducing information asymmetries in the rural credit market, although its effects are concentrated in a small fraction of beneficiaries, posing additional challenges to broaden its reach and effectiveness. Accessing credit through microfinance institutions or…
|
|
AbstractAfter a protracted period of financial deepening following a financial crisis at the end of the 20th century, the ratio of corporate bank loans to GDP in Colombia stagnated between 2016 and 2019. In this paper, we explore if firms have substituted bank loans for other financial…
|
|
AbstractWe investigate the entry and exit of short-cycle higher education programs (SCPs), which last two or three years and can address local skill needs. Exploiting administrative data from Colombia, we study markets defined by geographic location and field of study. We find that…
|
|
AbstractThis document presents projections on the fiscal expenditure associated with Colpensiones and the special regimes that make up Colombia's pension system under the rules in force in 2024. Under conventional assumptions about longevity, formality, and a long-run economic growth…
|
|
AbstractForeign portfolio investments can affect the Colombian exchange market mainly through the demand for hedging that investors make in the foreign exchange derivatives market, and the exchange of dollars for pesos that materializes when investing in public debt securities (TES). This…
|
|
Abstract
This study follows a novel approach proposed by Angelico et al. (2022) using Twitter to measure inflation perception in Colombia in real time. By applying machine learning techniques, we implement two real-time indicators of inflation perception and show that both exhibit a…
|
|
AbstractThis paper examines the evolution of women's participation in the labor market from 1960 to 2018, shedding light on the complex factors that influence their labor opportunities. The study emphasizes the significance of the historical context in understanding these…
|
|
Abstract
Although greenhouse gas emissions from the Latin America (LAC) region are not particularly significant, climate change is a worldwide challenge. Hence, we analyze the main factors that increase and mitigate emissions in LAC countries by emphasising the importance of preserving and…
|
|
AbstractThe design of mechanisms for sustainable irrigation water management requires a deep understanding of the value of water to local communities. We present results from a lab-in-the-field incentivized game that sheds light on irrigation water overvaluation patterns among small farmers in…
|
