Bogotá, Colombia

This paper analyzes the economic rationale for adopting parametric pension reforms and  reforms broadening the coverage of public health care in Colombia during 1993–2008. Parametric pension reforms have focused on increasing the retirement age and moderating  replacement rates. The…

Historically, when an economy emerges from recession, employment grows with, or soon after, the resumption of GDP growth. However, following the two most recent recessions in the United States, employment growth has lagged the recovery in GDP by several quarters, a phenomenon thathas been termed…

Near the end of 2002, Colombia’s Congress approved Law 789, better known as the labor market reform. Regardless of the fact that the reform has not yet completed two years of operation, and many of the changes in the labor legislation are expected to have long term effects, this study intends to…

This paper discusses alternative approaches to estimate models of behavior of mortgage debtors. Specifically, the focus is on the understanding of default decisions. The goal…