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Parra-Polanía, Julián Andrés
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- Publicación |The research is relevant in the current context, given the interest of some central banks in exploring CBDCs as one of the possible alternatives to the digitalization of payments.
- Publicación |Considering the recent decline in the birth rate, the beginning of the decline in the labor force in Colombia would occur between 2043 and 2045.
- Publicación |Approach
Since the introduction of exchange rate flexibility and the inflation targeting regime in 1999, Banco de la República (BR), Colombia's monetary and exchange rate authority, has intervened assiduously in the foreign exchange market, except in the last five years.
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Using a stylized model in which output is measured with error, we derive the optimal policy response to the demand shock signal and to changes in the measurement error volatility from two different perspectives: the minimization of the expected loss (from which we derive the ‘standard’ policy)…
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In the present paper we remark that the absence of an intrinsic or fundamental value represents a problem for the stability of the bitcoin’s price as an asset. In addition, we consider some financial stability concerns that derive from the hypothesis that the bitcoin will survive as an asset…
