Toro-Córdoba, Jorge Hernán

The effects of unexpected job loss on the probability of participating in criminal activities are estimated in an article on lost jobs, credit, and crime in Colombia by Banco de la República’s researchers Carlos Medina and Christian Posso.

The Box 2 of the Banco de la Republica's most recent Monetary Policy Report analyzes the increase in the prices of Colombian imports. Graph B2.3 of the above shows dollar price indices of Colombian imports in FOB and CIF values from…

Banco de la República (BR) posted historically high profits in 2019 and 2020, which accounted for 7.1 billion and 7.5 billion pesos respectively. This was mainly the result of the extraordinary returns on the foreign reserves (FR) which totaled 7.6 billion and 6.6 billion pesos for each of these…

The Colombian tax system has multiple allowances and deductions but also supports a high degree of evasion. This means that the statutory or nominal rates, established by law, are an imprecise indicator of the true tax burden on taxpayers, whether they are consumers, individuals, or legal…

The fragility of the corporate sector is usually assessed with traditional indicators related to the financial situation of companies such as insolvency, default, and bankruptcy. However, there are alternative indicators for studying the activity of the productive sector that do not usually…

The Covid-19 pandemic and the policy response to mitigate its effects led to a substantial deterioration in the Central National Government’s finances. In 2020, the deficit of the CNG stood at 7.8% of the GDP, a figure that was more than three times higher than in 2019. This increase was due to…

The relationship between managing public finances and the business cycle has attracted much interest to economic research. Studies on the matter suggest that industrialized countries have a countercyclical fiscal policy while emerging countries have a procyclical one, meaning that advanced…

The Covid-19 pandemic caused an economic downturn and an unprecedented increase in the unemployment rate. In April 2020, when the impact of the pandemic was strongest, the National Department of Statistics (DANE) estimated that economic activity dropped at an annual rate of 20.1% based on the…

This article addresses the question: Has the delay in the provision of transport infrastructure in Colombia, caused in part by historically low levels of investment, been a significant obstacle to its economic growth and regional and international integration? The…

The extern

External demand during the first half of 2013 was somewhat weaker than expected. In the United States, our largest trading partner, the increase in private spending is being offset partly by fiscal consolidation, which has led to a slight decline in the forecast for that country’s growth. The…

Global economy continued to recover in the fourth quarter of 2013, thanks to the added momentum in the developed economies, especially the United States. In the euro area, the economic indicators pointed to low, but positive economic growth. Growth in the major emerging countries of Asia and…

Colombia’s economy expanded by 2.7% in 2018, gaining momentum after a period of deceleration in which the annual growth rate fell from 4.7% in 2014 to 1.4% in 2017. While growth was still below potential (estimated around 3.3%), the uptick in 2018 suggests the groundwork for Colombia’s economic…

This edition of the Governor’s Report presents an assessment of the country’s economic situation and its prospects. We argue that the Colombian economy remains stable despite strong international shocks and the recent crises in countries like Argentina and Turkey. However, the country…

OBJECTIVESMonetary policy in Colombia is based on inflation targeting, which is intended primarily to keep inflation low and to ensure stable growth in output near its long-term trend. Accordingly, the objectives of monetary policy combine the goal of price stability with…

El Borrador de Economía titulado ‘Efectos asimétricos de choques de términos de intercambio sobre la inversión transable y no transable: El caso colombiano’, analiza las consecuencias para Colombia del fuerte choque de términos de intercambio que ha enfrentado el país desde mediados del 2014,…

The Inflation Targeting Scheme in Colombia

OBJECTIVES

The Inflation Targeting Scheme in Colombia

OBJECTIVES

The Inflation Targeting Scheme in Colombia

OBJECTIVESMonetary policy in Colombia is based on inflation targeting, which is intended primarily to keep inflation low and to ensure stable growth in output near its long-term trend. Accordingly, the objectives of monetary policy combine the goal