Journal ESPE

Fiscal rules, also known as fiscal responsibility norms, refer to restrictive measures of fiscal policy at either the national or subnational level, through which the sustainability of public finances is sought to be guaranteed. These rules can be quantitative (those…

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.

The Global Financial Cycle (GFC) is a common movement of financial variables transmitted to emerging economies through various channels. During periods of GFC expansion, emerging economies tend to exhibit higher capital inflows, increased asset prices, and better conditions for accessing…

At the end of each year, Colombia follows a negotiation protocol that leads to an increase in the minimum wage either by agreement between the parties or, in the absence of such agreement, by government decision. Despite evidence of its adverse effects on the labor market (formal…

This paper reviews the literature on the expected macroeconomic effects of the physical and transition risks of climate change, identifying the main strengths, weaknesses, and gaps. This review aims to contextualize climate change’s potential impact in Colombia in the coming decades and…

This document reviews the literature on the expected macroeconomic effects of climate related physical and transition risks (CRR), identifying the main strengths, weaknesses and gaps in said literature. This review seeks to contextualize its potential impact on Colombia in the coming…

This paper studies the determinants of regional income inequalities (non-labor and labor) between 2010 and 2019 and how they changed due to the effects of the COVID-19 pandemic.

This Ensayos Sobre Política Económica (ESPE in Spanish) paper is framed within the area of macroeconomic literature that studies the expectation formation process. Under an inflation targeting scheme, expected inflation plays a central role in the analysis of monetary…

This article addresses the question: Has the delay in the provision of transport infrastructure in Colombia, caused in part by historically low levels of investment, been a significant obstacle to its economic growth and regional and international integration? The…

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