While motherhood is gradually shifting toward older ages, adolescent pregnancy persists in some regions of the country. Adolescent fertility must be understood as a phenomenon shaped by multiple dimensions, and its persistence constitutes a sensitive indicator of inequality.
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- Publicación |XGBoost models are more accurate in forecasting food inflation than linear models for most of the 33 baskets studied, especially for longer forecast horizons.
- Publicación |Neighborhoods that initially had high crime rates, and that were connected to the cable cars experience a significant decrease in the likelihood that their residents engage in criminal activities, and this change is proportional to the reductions in travel time provided by the new infrastructure.
- Publicación |Hospital productivity has declined steadily across all three complexity levels. Level 3 public hospitals (ESEs) were more resilient during the pandemic, while Level 2 hospitals suffered the greatest impact but showed a stronger recovery. Level 1 hospitals experienced the most prolonged decline with…
- Publicación |The implicit equity tax is progressive for smaller firms but regressive for larger ones.
- Publicación |Although there is a close relationship between the government’s budget and its fiscal balance, they respond to different objectives, concepts, accounting bases, and measurement methodologies, which makes their understanding, monitoring, and evaluation more difficult.
- Publicación |Regarding the impact of monetary policy on housing prices, we find that it is significant: a one-unit monetary policy surprise shock (in the index) leads to a decline in housing price growth of approximately 6 percentage points as supply elasticity decreases.
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This study analyzes the agricultural credit system in Colombia, with a particular focus on access to financing by small-scale rural producers. It examines the policies of the National Agricultural Credit System (SNCA), the financial instruments managed by the…
- Publicación |Market frictions and banking regulations limit the liquidity of the derivatives market, particularly affecting large firms. Foreign exchange interventions have asymmetric effects: they implicitly protect small firms under low intervention scenarios, but benefit large firms when intervention is high.
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This study examines a key question for territorial policy in Colombia: Does dividing the country into more departments make sense as a strategy to reduce poverty and foster local economic development? Throughout Colombian history, new departments have been created under…
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This study examines the evolution of gender roles and time use in Colombia throughout the 20th century and into the 21st, using microdata from the population censuses conducted between 1964 and 2018, as well as the National Time Use Surveys (ENUT) from 2016–2017…
- Publicación |Microcredit plays a relevant role in reducing information asymmetries in the rural credit market, although its effects are concentrated in a small fraction of beneficiaries, posing additional challenges to broaden its reach and effectiveness. Accessing credit through microfinance institutions or…
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Although Santander continues to rank among the departments with the highest gross domestic product (GDP) per capita in Colombia, in recent years it has shown a relative lag in its economic and social performance. In light of these trends, the purpose of this document is to…
- Publicación |Expectations about the monetary policy rate (MPR) play a key role in the transmission to deposit and credit interest rates. This process is neither immediate nor uniform across financial products.
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This study examines rental costs across various Colombian cities to understand their contribution to the cost of living and their recent evolution. A comparative index is constructed to measure price differences between cities, adjusting for housing quality and…
- Publicación |Greater female labor force participation would help mitigate the challenges posed by population aging, which is one of the most pressing issues facing major economies worldwide.
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This document presents a stress testing model designed to assess, from a forward-looking perspective, the financial vulnerability of non-financial corporations in Colombia. This tool is used by the Financial Stability Department of Banco de la República (the Central Bank…
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Fiscal policy and monetary policy are intricately connected, as government policies influence various macroeconomic variables, affecting prices and, consequently, Central Bank decisions. To elucidate this relationship, this document outlines the model employed by Banco…
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Catatumbo is a region located in northeastern Colombia on the border with Venezuela, which has historically been the scene of waves of violence. In recent years, it has established itself as one of the areas with the largest coca cultivation in the country. This…
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We present evidence of the minimum wage effects on labour informality rates in Colombia, where the informality is by far the most serious problem of the labour market. The working population is divided into sixteen groups depending on the age, gender, and educational level. This division…
