Servicios
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Abstract: This paper examines the sharp decline in fertility across Latin America using both period and cohort measures. Combining Vital Statistics, Census microdata, and UN population data, we decompose changes in fertility by age, education, and joint age–education groups. We show that the…
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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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Nota: Por un error, se compartieron previamente la información y el enlace correspondientes a este seminario. Sin embargo, debido a que estamos en semana de silencio se trata de un evento de carácter cerrado y no se transmite.Lamentamos los inconvenientes.
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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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Many central banks that have opted for monetary autonomy have also been reluctant to relinquish control over the value of their currencies. As a result, they have operated through both interest rate and foreign exchange interventions. However, in the context of the monetary trilemma, both…
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