Toro-Córdoba, Jorge Hernán

When citizens of a developing country decide to emigrate in search of a better future, their lives and those of their families are not the only ones affected. This decision can also have an impact on different aspects of the country of origin  , such as income, inequality, the quality of…

Since the second half of 2021, food prices in Colombia grew on average 12 percentage points more than in the other OECD countries and seven percentage points more than in the rest of Latin America.

There is a broad consensus in the scientific community regarding the risks associated with climate change on the economic activity of most countries in the world. Such risks may be physical or transitional. Physical risks are related to the gradual increase in temperatures around the globe and…

The Colombian peso has exhibited a volatile behavior and a significant depreciation in recent months. In view of this trend, the question arises as to whether an intervention by Banco de la República (the Central Bank of Colombia) in the foreign exchange market to stabilize the currency would be…

On May 18 and 19, in conjunction with the International Economic Association (IEA), the Bank of Spain, and the United Nations Development Program (UNDP), Banco de la República held a virtual seminar entitled Pathways to Gender Equality in Central Banks, 1featuring academic…

This document reviews the literature on the expected macroeconomic effects of climate related physical and transition risks (CRR), identifying the main strengths, weaknesses and gaps in said literature. This review seeks to contextualize its potential impact on Colombia in the coming…

In recent years, the practice of considering environmental, social, and corporate governance (ESG) factors in investment decision-making has become more widespread. While the term ESG is used interchangeably with sustainable or responsible investing, it denotes an investment approach in which…

Although the existence of wage gaps that favor men over women is well known and is explained by multiple factors, there is little discussion of what happens in the opposite case when the women in the households earn more money than the men. In particular, international studies suggest that…

In 2021, the price of beef grew about 31% and, as of February 2022, has seen an additional growth of more than 4.0%. As can be seen from Graph 1, this increase coincided with similar increases in chicken and pork prices up to October 2021 in contrast to the relative stability seen since 2017.…

Population aging poses a serious challenge to the Colombian pension system.

The Internationalization Mission convened by the National Government with the participation of renowned international experts, the technical secretariat of the National Planning Department (DNP in Spanish), and other entities…

In 2014, Decree 2616 introduced a change in regulation that lowered payroll taxes for low-income, part-time workers in Colombia. The reform made the mandatory contributions to social security proportional to the time worked when the monthly wage was lower than the minimum wage.

Inflation expectations correspond to what economic agents believe inflation will be in the future. This is a variable that is relevant to monetary policy and to the general performance of the economy since it influences how the prices for goods and services, wages, and the prices of financial…

Banco de la República's Financial Stability Report of the first semester of 2021 showed that during the first six months of 2020 (in a recessionary context derived from the global pandemic) total…

Scientific evidence has shown that extreme weather events, including excessive precipitation and droughts, are becoming longer and more severe due to the effects of climate change. If agricultural producers do not adjust to this new reality, produce shortages and higher food prices can be…

A recent research paper by Carlos Medina and Christian Posso, senior economists at Banco de la República, explores the long-term effects of the Familias en Acción (FeA) program, a Colombian conditional cash transfer program. This type of program has become popular in developing countries since…

As of June 2021, DANE and Banco de la República (BR) began to jointly report on the national accounts by institutional sector (CNSI). These will henceforth be published on a quarterly basis…

The gap in the quality of education between urban and rural households in Colombia is caused by multiple factors. Rural families have, on average, less education, and it is also more common for children growing up in rural areas to spend more time working. In addition, there are fewer…

Since 2009, Banco de la República's Financial Stability Department has been doing a quarterly survey on the credit situation in Colombia, which is geared towards transactions (banks, financing companies, and financial cooperatives). The purpose of the survey is to analyze the institutions'…