Several studies have pointed to the influence of the minimum legal wage (SM for its Spanish acronym) on the labor market and the observed distribution of wages and prices in the economy, among other effects. In 2022, Banco de la República conducted a comprehensive study on the macroeconomic…
Martínez-Cortés, Nicolás
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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…
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The behavior of production and foreign trade in the country’s industrial manufacturing sector was analyzed in previous editions of this report, with special emphasis on how they react to changes in the exchange rate for the dollar. It also was suggested that the recent…
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Since early last year relative food prices has shown an upward trend, which has not reverted yet (Graph B2.1). In annual terms, food inflation has risen almost steadily since December 2013, the month when it reached 0.9%, before jumping to 4.7% a year later and ending …
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Since July last year and after several quarters of steady declines, the annual change in the consumer price index (CPI) for non-tradables, excluding food and regulated items (NT-EFR), tended to stabilize up to November 2014, then adopted a rising trend that became more…