Publications OLD

The monitoring of the local financial infrastructure is an additional contribution of Banco de la República (the Central Bank of Colombia) to the country’s financial stability. One of the outputs of this monitoring is the Payment Systems Report, which from this edition onwards changes its name…

We study the labor market effects of the Venezuelan migration shock on female labor market outcomes in Colombia using a Bartik-instrument approach.For our identification strategy we leverage regional variation from pull factors and time variation from push factors. Our findings show…

This study characterizes the microstructure of the spot and forward peso-dollar exchange markets in Colombia, with the objective of studying the main dynamics and interactions of all the sectors which are participating in these markets. Additionally, it seeks to identify the economic…

In this paper we evaluate the contribution of business expectations from surveys of Banco de la República and Fedesarrollo, to the forecasts of the main macroeconomic variables: inflation, unemployment, employment and economic growth. We make this assessment by comparing one to four…

This paper proposes comprehensive measures of the Latin American business cycle that help to infer the expected deepness of recessions, and strength of expansions, as they unfold in real time. These measures are based on the largest country economies in the region by accounting for…

This paper estimates the marginal treatment effect of informality on wages for Brazil at the individual level using regional data on labor inspectors for identification. The results show that there is significant essential heterogeneity among otherwise identical workers that lead them…

The extraction of non-renewable natural resources has the potential to generate revenue to finance government activities. One of the most used tax tools is the collection of royalties from mining projects because they are usually unrelated to their profitability. Royalties often have…

Portfolio flows are an important source of funding for both private and public agents in emerging market economies. In this paper, we study the influence of changes in domestic and US monetary policy rates on portfolio inflows in an emerging market economy and discriminate among fixed…

Emerging and Frontier Markets: Capital Flows, Resiliency, Risks, and Growth - Supported by the National Bureau of Economic Research (NBER), the Latin American Reserve Fund (FLAR), and Banco de la República (The Central Bank of Colombia)

Emerging and Frontier Markets: Capital Flows, Resiliency, Risks, and Growth - Supported by the National Bureau of Economic Research (NBER), the Latin American Reserve Fund (FLAR), and Banco de la República (The Central Bank of Colombia)

This paper reviews the studies on corruption in Colombia, the main definitions,some stylized factsand their typeof measurements. Likewise, it presents the series of the main corruption measures available in the countrybased on data from entities such as the Contraloría General de la…

The covid-19 pandemic distorted the pattern of household consumption. Consequently, the official fixed basket CPI could be measuring inaccurately the evolution of inflation. The exercise presented in this document, was to update the weighting structure of the basket with alternative…

This paper analyzes empirically the relationship between monetary policy interventions and the net interest margin of Colombian credit institutions for the 2003 - 2019 period.

Small family farms account for 72 percent of the farms in the world. Most of these farms, in developing countries, face labor productivity gaps. One of the strategies to increase agricultural productivity focuses on implementing technical assistance programs. Using…

We use the stochastic frontier approach to estimate the reservation wage across different city groups in Colombia. We use the information of GEIH from 2008-2019 of 23 urban cities. We find empirical evidence in favour of the search theory predictions that suggest a positive relation…

Presentación realizada durante el Seminario Macro Anif 

Presentación realizada durante el Comité consultivo de empresarios, en Cali. 

Presentación realizada en el Seminario Anif – Fedesarrollo, Club El Nogal.

We provide evidence on the long-run impact of vouchers for private secondary schools, evidence collected twenty years after students applied for the vouchers. Prior to the voucher lottery, students applied to either an academic or vocational secondary school, an important…

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.