Servicios
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The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
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Over the years, Banco de la República, the Central Bank of Colombia (BR), has structured a long-term cultural project that contributes to managing the nation's cultural heritage, promotes access to knowledge, and helps consolidate the sense of citizenship. It is through two great lines of work—…
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From: 2022
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Transparency is fundamental to accountability on the part of independent central banks. Because they have been granted greater independence, the transparency of these institutions is seen as a mechanism that offers society the ability to assess whether a central bank's actions are consistent with…
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The upcoming auction of the program for accumulation of international reserves through put options will take place on the 31st of October, amounting to USD 400 million. The options will be availble between the 1st and 30th of November of 2018.
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Banco de la República informs that:
The upcoming auction of the program for accumulation of international reserves through Put Options will take place on 3 December 2018, amounting to USD 400 million. The options will be in force from 4 December 4 to 28 December 2018.
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AbstractEducation in Colombia and Latin America is characterized by significant gaps in the quality of education as measured by standardized test scores. This paper assesses the impact of a Colombian program called SaberEs, which strengthens preparation for standardized…
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A document containing the objectives, strategies, projects, goals, persons in charge, budget distribution, and management indicators of the Bank's investment projects and the management report for the immediately preceding year.
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The Constitution of Colombia(Only in Spanish) establishes that Banco de la República (the Central Bank of Colombia) is an independent institution from the branches of government, has administrative, patrimonial, and technical autonomy, and is subject to its own legal framework.
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General Objective The objective of this course is to provide the attendees with a high-level academic space, to study in depth advanced topics in macroeconomics, microeconomics, and econometrics. Moreover, it aims to promote the transmission of knowledge from those attending the course to…
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The new member of the Board of Directors studied economics at Universidad de los Andes and holds a PhD in Economy from the University of Illinois Urbana-Champaign. Between 1993 and 1997, Mr. Carrasquilla was the Deputy Technical Governor at Banco de la República. Alberto Carrasquilla has…
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On August 2, 2021, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDR) for SDR 456 billion (equivalent to USD 650 billion). This allocation strengthens the international liquidity of the Fund’s 190 member countries by…
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This study presents an alternative way of estimating credit transition matrices using a hazard function model. The model is useful both for testing the validity of the Markovian assumption, frequently made in credit rating applications, and also for estimating transition matrices conditioning on…
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The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
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El crimen en Medellín es un crimen organizado, en lucha de un control territorial.Un problema fundamental de la incidencia del crimen en Medellín es el uso de armas de fuego. Gaviria et al. (2010), argumenta que un problema del crimen en Colombia es el fácil acceso a un arma de fuego. Krug et al.
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We assess the effect of the homicide rate, individual´s perception of security in their neighborhood of residence, and of the effect of their having been victimized, on life satisfaction. We find a negative effect of the homicide rate on life satisfaction for the subsample of individuals living in…
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This document explores an alternative strategic asset allocation framework for foreign exchange reserves, whose main purpose is to maximize the risk-adjusted returns maintaining the objectives of liquidity and safety of a foreign reserves’ portfolio. The overall portfolio can be fragmented…
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The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors.
ABSTRACT
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In this paper, we propose an alternative methodology to determine the existence of credit booms, which is a complex and crucial issue for policymakers. In particular, we exploit the Mendoza and Terrones (2008)’s idea that macroeconomic aggregates other than the credit growth rate contain valuable…
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We study the relationship between US and Colombian sovereign debt interest rates. We also evaluate the response of the Colombian long-term bond yield and other asset prices to shocks to the US long-term Treasury rate. Two empirical exercises are performed. First, we use a moving window linear…
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This paper examines the relationship between mortgage default decisions and relevant observable variables under the light of a random utility model. The focus of the study is the Colombian mortgage market between 1997 and 2004 using two separate data sets that are matched using simulation…
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An Estimation Of the Nonlinear Phillips Curve in Colombia An Estimation Of the Neonlinear Phillips Curve in Colombia Javier Gómez and Juan Manuel Julio */
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Graph 1 shows a conventional PPP measure of the real exchange rate in Colombia and an index of the relative price of tradable goods in terms of non tradeable. The common conclusion is that, since 1990-92 there has been a medium term process by which the RER has appreciated by as much as 26%. The…
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