Servicios
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Abstract: This paper studies the effects of partial automation (i.e., the creation of technology capable of automating some but not all components of a job). We consider a model where jobs entail a bundle of tasks, workers may trade the output of the requisite tasks at a cost, and workers in a job…
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Abstract: The use of markets to reallocate water in arid regions has elicited political criticism for reducing agricultural output and causing negative environmental effects. We develop a general equilibrium model to formalize arguments about how liberalizing water trade creates pecuniary and…
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Abstract: Jobs constitute the primary mechanism for poverty reduction globally (Inchauste et al. 2014). In Latin America and the Caribbean (LAC), the 2009–14 period— the last episode of rapid poverty reduction in the region—saw employment creation and earnings growth accounting for approximately…
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Abstract: The order of magnitude of the projected damages of anthropogenic climate change largely hinges on whether the impacts of climatic shocks persist over multiple years. Models that assume climatic shocks are only transitory point to modest damages, whereas models that assume climatic…
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Abstract: Good measures of labor market tightness are essential to predict wage inflation and to calibrate monetary policy. This paper highlights the importance of two measures of labor market tightness in determining wage growth: the quits rate and vacancies per effective searcher (V/ES)—where…
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Felipe Alves: Economista Senior, Banco de Canadá
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Resumen
Low and stable inflation requires an appropriate fiscal framework aimed at stabilizing government debt. Historically, trend inflation is critically influenced by actual or perceived changes to this framework, while cost-push shocks only account for short-lasting movements in inflation.…
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Abstract: El libro “El Laberinto Fiscal de Colombia” analiza las causas del deterioro de las finanzas públicas en los últimos años. Muestra cómo las crecientes rigideces del gasto y el débil desempeño tributario han llevado al uso de estrategias insostenibles, como la sobreestimación de los…
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Resumen:
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See additional information in "The Board of Directors of Banco de la República notifies updates to some of its calendar of monthly meetings and monetary policy announcements"
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See additional information in "The Board of Directors of Banco de la República notifies updates to some of its calendar of monthly meetings and monetary policy announcements"
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See additional information in "The Board of Directors of Banco de la República notifies updates to some of its calendar of monthly meetings and monetary policy announcements"
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Banco de la República strives to strengthen its communication on monetary policy and to build better relationships with portfolio investors and market analysts. The goal is to gain clearer insight into how these stakeholders view the Colombian economy, improve how the Bank shares its policies, and…
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Fluctuations in commodity prices are an important driver of business cycles in small emerging market economies (EMEs). We document how these fluctuations correlate strongly with the business cycle in EMEs. We then embed a commodity sector into a multi-country EMEs business cycle model where…
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A basic theoretical of a small open economy within the framework of intertemporal maximization is used to analyze the effects of nominal export shocks. The model helps in explaining the close relationship that is found between export shocks and short run fluctuations of domestic savings in the…
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