This document examines the effects of public and private investment in transportation infrastructure on the Colombian economy in the short and long run. In particular, it analyzes the historical evolution of the transportation infrastructure in Colombia, reviews the institutional…
Zárate-Solano, Héctor M.
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In the last two decades, the Banco de la República de Colombia has assiduously intervened in the foreign exchange market, except in the last 5 years. The objectives are to accumulate international reserves, reduce excess of exchange rate volatility and moderate deviations of the…
- Publicación |Abstract An analysis of the current account’s revenues of the balance of payments is undertaken. Those revenues comprise the exports of goods and services, the return from Colombian investments abroad, and current transfers that include workers remittances. It is found that Colombian foreign…
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This paper examines inflation expectations of the World Economic Survey for ten inflation targeting countries. First, by a Self Organizing Maps methodology, we cluster the trajectory of agents inflation expectations using the beginning of the oil price shock occurred in June of 2014 as a…
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In this document we estimate credit and GDP cycles for three Latin-American economies and study their relation in the time and frequency domains. Cycles are estimated in order to analyze their medium and short-term frequencies. We find that short-term cycles are usually more volatile than medium…
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In this paper we explore the price setting behavior of Colombian producers and importers using a unique database containing the monthly price reports underlying the Colombian PPI from Jun-1999 to Oct-2006. We focus on five particular questions:
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The price setting behavior of Colombian retailers of goods and services was studied based on a unique dataset containing 12,052,970 individual price reports covering all items in the Colombian CPI from March 1999 to May 2008. The main results are summarized as follows: 1. Colombian consumer…
