The importance of Low-Value Payment Systems (LVPS) in economies is undeniable. Safe and efficient LVPS promote financial inclusion, economy formalization, and reduce transactional costs for agents. In this article, we study the role of cash and electronic payments in the payment ecosystems of…
Zárate-Solano, Héctor M.
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Journal Essays on Economic Policy (ESPE) - Fiscal policy and macroeconomic stabilization in Colombia
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- Publicación |The pass-through of the VAT rate change is much less than proportional and highly heterogeneous.
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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…
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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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The extern
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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…
