Bogotá, Colombia

Foreign portfolio investments can affect the Colombian exchange market mainly through the demand for hedging that investors make in the foreign exchange derivatives market, and the exchange of dollars for pesos that materializes when investing in public debt…

The objective of the study is to model and determine the tax incidence of a reduction in the corporate income tax in Colombia. To meet this objective, a dynamic and stochastic general equilibrium model DSGE of a closed economy with heterogeneous households and two…

Inflation has decreased since April, and it is projected to continue to reduce significantly throughout 2024 as it converges toward 3%.

We evaluate the returns to signaling occupation-specific skills using unique administrative data from a nationwide certification program in Colombia. The program certifies skills and issues three certificates: basic, intermediate, and advanced. We use…

Each edition of the report has four objectives: 

1) to publicize a consolidated account of how the figures for payment infrastructures have evolved with respect to both financial assets and goods and services; 

2) to summarize the issues that are being debated…

This paper evaluates the fiscal and macroeconomic effects of some risks faced by the health system. These comprise changes in demographic and morbidity patterns, new medical technologies, inefficiencies in the system and the structure of the labor market. These…

This study follows a novel approach proposed by Angelico et al. (2022) using Twitter to measure inflation perception in Colombia in real time. By applying machine learning techniques, we implement two real-time indicators of inflation perception and show …

This study follows a novel approach proposed by Angelico et al. (2022) using Twitter to measure inflation perception in Colombia in real time. By applying machine learning techniques, we implement two real-time indicators of inflation perception and show…

This document presents a Gaussian Affine Term Structure Model (GATSM) of the zero-coupon public debt curve issued locally by the Colombian Government, adopting the methodological approach of Hamilton and Wu (2012) to solve the problems of identification and instability in the…

Although greenhouse gas emissions from the Latin America (LAC) region are not particularly significant, climate change is a worldwide challenge. Hence, we analyze the main factors that increase and mitigate emissions in LAC countries by emphasising the importance of preserving and…

Our study analyzes the impact of debt moratorium policies, possibly the oldest approach to addressing repayment problems. Using Colombian administrative data, we compare firms that narrowly met the criteria for moratoria (eligible firms could not exceed 60 days overdue…

This study aims to establish a comprehensive linkage between CO2 emissions and the composition of energy sources, economic growth, and reforestation, thereby shedding light on their intricate connections in Colombia over the period 1970-2018. First, we use different types of…

Based on monthly disaggregated Consumer Price Index (CPI) item series and macroeconomic series, we explore the advantages of forecast inflation from a disaggregated to an aggregated level by aggregating the forecasts. We compare the performance of this approach with the forecast…

Since the enactment of Law 100 of 1993, the health care system in Colombia has undergone significant transformations that have resulted in improvements in health indicators, expanded coverage, and financial protection for the population.

In recent years, the institutions of the Colombian financial system have expanded their operations and have made their ownership structures more complex given the presence of different financial groups in various lines of business (such as banking intermediation).

In an increasingly globalized world, it is common for companies, governments, and households to make transactions in currencies other than those of their own economy. This type of capital movement makes it possible, for example, to increase current spending, finance capital expansion projects,…

The purpose of the Financial Stability Report is to present Banco de la República (the Central Bank of Colombia)'s assessment of the recent performance of credit institutions and their borrowers, as well as the main risks and vulnerabilities that could affect the financial stability of the…

Throughout 2021, Banco de la República participated, together with the other safety net authorities of the Colombian financial system, in the Financial Sector Assessment Program (FSAP) coordinated by the International Monetary Fund (IMF) and the World Bank (WB). This box briefly describes the…

This paper examines the evolution of women's participation in the labor market from 1960 to 2018, shedding light on the complex factors that influence their labor opportunities. The study  emphasizes the significance of the historical context in  understanding these…