Servicios
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We study endogenous growth within a model with occupational choice in which innovators produce ideas, within an asymmetric information framework. Each innovator has private knowledge of their production costs. Developers offer innovators non-linear contract schemes that affect both the number of…
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Political economists have traditionally been indifferent to the communicative construction of money and central banking in the public sphere. It does not matter to them whether monetary affairs are rendered as a rational game over the preservation of the value of the currency or, for example, as a…
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From: 2022
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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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General ObjectiveIt is an interactive space that promotes education and spreads out central banking topics. It aims to allow its visitors to learn through games about subjects related to money, inflation, the economic system, and monetary policy, as well as Banco de la República’s (the Central Bank…
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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
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Banks and other credit institutions are key players in the transmission of monetary policy, especially in emerging market economies, where the responses of deposit and loan interest rates to shifts in policy rates are among the most important channels. This pass-through depends on the conditions…
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Presented during Session 5: Independence of Central Banks: Design and Implementation.
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Speech read in the seminar “La Expansión Internacional de los Conglomerados Financieros” organized by the International Monetary Fund and Banco de la Republica de Colombia, Bogotá
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ABSTRACTTwo FX policy issues are discussed based on the recent Colombian experience. First, the increased participation of foreign investors in local bond markets since 2014 induced a reassessment of international reserve adequacy. We present the resulting LCR-type methodology to evaluate adequacy…
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The upcoming auction of the program for the accumulation of international reserves through PUT options will be held on 1 April 2019, in the amount of USD 400 million. The options will be in force between 2 and 30 April 2019.
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Paper presented at BIS Annual Meeting of Central Bank Governors.
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This paper reports on the recent developments in the construction of an interregional input-output matrix for Colombia (IIOM-COL). As part of an ongoing project that aims to update an interregional CGE (ICGE) model for the country, the CEER model, a fully specified interregional input-output…
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Speech by Leonardo Villar, Governor of Banco de la República (the Central Bank of Colombia), during the 36th Capital Market Symposium organized by Asobancaria in Bogotá.
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Greetings to all attendees of this Capital Market Symposium, and thanks to Asobancaria for the invitation and the opportunity to participate in this event.I would like to share with you some remarks on the role that Banco de la República will play in the administration of the Contributory Pillar…
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To begin, I would like to congratulate the Constitutional Court and its President, Mr. Jorge Enrique Ibáñez Najar, on this Panel Discussion on Constitutional Jurisdiction, which will unfold over the next two days, thus continuing an important and well-established tradition. This panel discussion…
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Bogotá, Club El Nogal, noviembre 12, 2025Turbulent timesBy March 2023, (i.e., two and a half years ago), inflation had risen above 13.4%, and interest rates had to be significantly adjusted upwards to levels similar to those of inflation.In Colombia, as in many countries around the world, we were…
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In this paper we explore one of the oldest labour market phenomena documented in the literature: the added worker effect, which refers to the labour supply response of secondary workers to main earners´ job losses. To do so we take advantage of the panel data survey conducted by a Colombian…
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This document studies intra and inter-departmental trade flows in Colombia for the period 2015-2018. Network analysis is carried out to build, visualize and study the structure of the system. Finding to explain the determinants of the structure presented by the Departamental Trade Network (DTN),…
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