Journal Essays on Economic Policy (ESPE)

Abstract

Abstract

Abstract

Abstract

Abstract

Colombia has traditionally been regarded as a success story in terms of economic growth and stability. According to Figure 1A, this reputation is based on the macroeconomic performance between the 1930s and 1970s, characterized by increasing GDP growth rates combined with a reduction in…

We study the effects of changing labor supply on total output in a setting of factor saving innovations where the choice of technologies depends on the relative abundance of factors. The sign and the size of the effect of a technological change on output depend on the relative abundance of…

Labor productivity in the euro area briefl y surpassed that in the United States in the mid-1990s, but has been falling behind since then. Identifying the reasons for the sluggish growth of labor productivity in the euro area is crucial to guide an effective policy response. In particular, if it…

A major breakthrough in the area of macroeconomics was the unifi cation of business cycle and growth theories by Kydland and Prescott (1982); accordingly, exogenous stochastic technological innovations —i. e. fl uctuations in total factor productivity (TFP) or supply shocks— would explain most…

In the last years, there have been a series of changes related to global trends in the supply of financial services. These trends include economic integration, technological change, increased competition, disintermediation, deregulation and financial crises.1 Colombia has not been apart from…

The relatively large depreciation of the Colombian peso to the US dollar during 2002 has posed a challenge for Colombian monetary policy. From end-2001 to end-2002 the USD/COP rate of exchange depreciated by some 20.0 percent,1 while consumer prices during the same…

In the early nineties Colombia carried out a trade liberalization program within an economic openness program (Apertura), which resulted in considerable lower tariffs and the elimination of non-tariff barriers. According to the World Trade Organization (WTO) the rates were lowered significantly…

The purpose of this paper is to evaluate whether developed countries export taxes to developing countries, contributing to the deterioration of their terms of trade and welfare. Developing countries have become increasingly integrated into world commerce. Since the beginning of the 1990”s most…

The primary objective of this paper is to examine the role of the exchange rate in determining short-and-long-run trade balance behavior for Colombia in a model which includes money and income. That is, the aim is to examine whether the trade balance ¡is affected by the exchange rate and whether…

Presentation titled "Timing and Duration of IT Regimes", delivered during the Seminar of the EEP Journal (Essays on Economic Policy), organized by Banco de la República at the Events Center of Biblioteca Luis Ángel Arango in Bogotá, Colombia.