Guarín-López, Alexander

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 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…