Seminarios

Resumen: La eficacia y la eficiencia de la política monetaria se evalúan para la economía colombiana en el período 2003‑2024 a partir del análisis estadístico y la inferencia en un modelo econométrico de rezagos distribuidos.

Resumen: We develop a novel firm-level credit condition sentiment index using Natural Language Processing (NLP) techniques and earnings calls. We first document that our credit condition sentiment index is a sensible measure by demonstrating it is positively correlated with the...

Resumen: We measure the inflation-unemployment tradeoff associated with monetary easing and tightening, during booms and recessions, using a novel nonlinear Proxy-SVAR approach. We find evidence of significant nonlinearities for the U.S. economy (1973:M1 - 2019:M6): stimulating...

Resumen: Jobs constitute the primary mechanism for poverty reduction globally (Inchauste et al. 2014). In Latin America and the Caribbean (LAC), the 2009–14 period— the last episode of rapid poverty reduction in the region—saw employment creation and earnings growth accounting...

Resumen: La reconfiguración de las cadenas globales de valor ha impulsado estrategias de relocalización buscando una mayor resiliencia a cambios en el entorno internacional pese a sus inherentes desafíos en términos de costos y competitividad. Este estudio evalúa los potenciales...

Resumen: Since 2018, tariffs have resurged as a tool for protecting domestic economies, particularly in the US. This paper examines the macroeconomic and welfare impacts of various tariff scenarios using a four-region dynamic general equilibrium model with a multi-sectoral...

Resumen: Concerns about ownership consolidation and sectoral reallocation resulting from the privatization and trade of water are predominant barriers that inhibit the adoption of water markets. However, systematic empirical evaluation of these processes is lacking.  ...

Resumen: El libro “El Laberinto Fiscal de Colombia” analiza las causas del deterioro de las finanzas públicas en los últimos años. Muestra cómo las crecientes rigideces del gasto y el débil desempeño tributario han llevado al uso de estrategias insostenibles, como la...

Resumen: Good measures of labor market tightness are essential to predict wage inflation and to calibrate monetary policy. This paper highlights the importance of two measures of labor market tightness in determining wage growth: the quits rate and vacancies per effective...

Resumen: Martellini and Menzio (JPE, 2020) argue that in a search-theoretical model with constant improvements in the search technology, a balanced growth path (BGP) exists if firm-worker matches are inspection goods and the quality of matches follow a Pareto distribution. On...

Resumen: The use of markets to reallocate water in arid regions has elicited political criticism for reducing agricultural output and causing negative environmental effects. We develop a general equilibrium model to formalize arguments about how liberalizing water trade...

Resumen: This paper proposes a Vector Autoregression augmented with nonlinear factors that are modeled nonparametrically using regression trees. There are four main advantages of our model. First, modeling potential nonlinearities nonparametrically lessens the risk of mis-...