News and Publications

This paper describes the recent behavior of some indicators of the Colombian educational system considering the effect of the pandemic. In addition, the impact of a pilot alternation plan, executed between September and December 2020, on the results of the Saber…

This document studies the period 1980-1984 during which the Banco de la República began its cultural programming in Cartagena and, specifically, how it was incorporated into its previous artistic dynamics.

Since July 2021, Banco de la República strengthened its forecasting process and communication instruments, by involving predictive densities in the projections of its models, PATACON and 4GM. This paper presents the main theoretical and empirical elements of the predictive density…

In 2014, Colombia implemented a policy that added flexibilization to labor contracts for part-time workers that reduced the quasi-fixed costs of employing formal workers. We find that the reform increased the probability of entering the formal sector within the targeted population:…

How much of the changes in the exchange rate is passed through to inflation is a question of main interest to the monetary authority, investors, the real sector, and the government itself.

Cash is still widely used in Colombia, even among merchants that accept payment cards. Indeed, 60% of these merchants use dissuasive strategies to make their clients pay with cash. This shows that merchant service costs (MSC) for cards are not optimal in the sense of the Tourist Test…

Fiscal sustainability in five of the largest Latin American economies is examined before and after the COVID-19 pandemic. For this purpose, the DSGE model in Bi (2012) and Hürtgen (2020) is used to estimate the Fiscal Limits and Fiscal Spaces for Peru, Chile,…

This paper assesses whether the expansion of online job vacancies leads to a more efficient labor market. We provide compelling evidence that the increase in online job vacancy penetration in Colombia has had an  enhancing effect on the labor market's…

During the last two decades, the use of fiscal rules has increased significantly around the world. Although international evidence has highlighted some benefits from its implementation, the experiences of Latin America in the  mplementation and the results have …

Rural schools are usually behind in terms of learning, and part of this could be related to geographical isolation. We explore this hypothesis, assessing the effect of distance between rural schools and local governments on learning in Colombia. We use spatial discontinuous regression…

Economic policy decision-making requires constantly assessing the state of economic activity. However, this is not an easy task: offcial figures have significant lags, and the timely information is usually partial and has different  frequencies.

This document studies the sources of liquidity used by financial entities that participate in the large-value payment system to meet their daily obligations. For this purpose, we design and implement an algorithm that breaks down the cash unit of these entities into different concepts…

Reporte de Estabilidad Financiera - 20 de mayo de 2020 from Banco de la República - Colombia on Vimeo.

Presented to the Third Committe of the Senate by our Governor, Leonardo Villar Gómez.