Bogotá, Colombia

We evaluate the returns to signaling occupation-specific skills using unique administrative data from a nationwide certification program in Colombia. The program certifies skills and issues three certificates: basic, intermediate, and advanced. We use…

Each edition of the report has four objectives: 

1) to publicize a consolidated account of how the figures for payment infrastructures have evolved with respect to both financial assets and goods and services; 

2) to summarize the issues that are being debated…

This paper evaluates the fiscal and macroeconomic effects of some risks faced by the health system. These comprise changes in demographic and morbidity patterns, new medical technologies, inefficiencies in the system and the structure of the labor market. These…

This study follows a novel approach proposed by Angelico et al. (2022) using Twitter to measure inflation perception in Colombia in real time. By applying machine learning techniques, we implement two real-time indicators of inflation perception and show …

The analysis presented in this edition of the Report allows concluding that the Colombian financial system has ample liquidity and solvency levels which are sufficient to confront the occurrence of extreme and tail risk events.

This study follows a novel approach proposed by Angelico et al. (2022) using Twitter to measure inflation perception in Colombia in real time. By applying machine learning techniques, we implement two real-time indicators of inflation perception and show…

Inflation has decreased since April, and it is projected to continue to reduce significantly throughout 2024 as it converges toward 3%.

Speech by the Governor during the debate on the draft Government Budget for 2023 held on 30 August 2022.

This document presents a Gaussian Affine Term Structure Model (GATSM) of the zero-coupon public debt curve issued locally by the Colombian Government, adopting the methodological approach of Hamilton and Wu (2012) to solve the problems of identification and instability in the…

Although greenhouse gas emissions from the Latin America (LAC) region are not particularly significant, climate change is a worldwide challenge. Hence, we analyze the main factors that increase and mitigate emissions in LAC countries by emphasising the importance of preserving and…

I am very pleased to welcome you to Bogotá and to this 24th meeting of the Regional Financial Stability Group  , which has been organized on this opportunity by Banco de la República (the Central Bank of Colombia) together with the Central American Monetary Council .We are honored to host…

This paper reviews the literature on the expected macroeconomic effects of the physical and transition risks of climate change, identifying the main strengths, weaknesses, and gaps. This review aims to contextualize climate change’s potential impact in Colombia in the coming decades and…

Our study analyzes the impact of debt moratorium policies, possibly the oldest approach to addressing repayment problems. Using Colombian administrative data, we compare firms that narrowly met the criteria for moratoria (eligible firms could not exceed 60 days overdue…

This study aims to establish a comprehensive linkage between CO2 emissions and the composition of energy sources, economic growth, and reforestation, thereby shedding light on their intricate connections in Colombia over the period 1970-2018. First, we use different types of…

Based on monthly disaggregated Consumer Price Index (CPI) item series and macroeconomic series, we explore the advantages of forecast inflation from a disaggregated to an aggregated level by aggregating the forecasts. We compare the performance of this approach with the forecast…

Since the enactment of Law 100 of 1993, the health care system in Colombia has undergone significant transformations that have resulted in improvements in health indicators, expanded coverage, and financial protection for the population.

In recent years, the institutions of the Colombian financial system have expanded their operations and have made their ownership structures more complex given the presence of different financial groups in various lines of business (such as banking intermediation).

Throughout 2021, Banco de la República participated, together with the other safety net authorities of the Colombian financial system, in the Financial Sector Assessment Program (FSAP) coordinated by the International Monetary Fund (IMF) and the World Bank (WB). This box briefly describes the…

In an increasingly globalized world, it is common for companies, governments, and households to make transactions in currencies other than those of their own economy. This type of capital movement makes it possible, for example, to increase current spending, finance capital expansion projects,…