Working Papers on Economics

The international financial crisis of 2007-2009 strongly affected asset prices, risk and growth in the advanced economies, leading to large capital movements between these economies and the emerging countries. The capital movements were reflected in sharp fluctuations in the emerging countries’…

This paper explores the behavior of Colombia labour market flows. We focus on job creation and job destruction from the plant´s perspective, and on hiring and separations from the worker´s point of view. We show how these labour flows change across different dimensions such as, firm’s size,…

Macroprudential policy in Colombia is described along with a discussion of the main challenges faced by the authorities in implementing it and a review of episodes in which macroprudential measures were taken. An overview and some estimates of their effectiveness in preventing the buildup of…

This paper proposes new monthly estimates for the non-accelerating inflation rate of unemployment (NAIRU) and the output gap for Colombia. These rely on a New Keynesian small open economy model following González et al (2013), augmented by an Okun’s Law equation. The resulting output gap closely…

Economic activity nowcasting (i.e. making current-period estimates) is convenient because most traditional measures of economic activity come with substantial lags. We aim at nowcasting ISE, a short-term economic activity indicator in Colombia. Inputs are ISE’s lags and a dataset of payments…

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors.

‘Determinantes socioeconómicos y convergencia espacial del bienestar biológico: El caso de la estatura en Colombia 1920-1990’ 

Enfoque: la estatura promedio de una población ha sido utilizada en la historia económica como un…

‘Analisis del Indice de Confianza del Consumidor en Colombia: Un FAVAR estructural’

Enfoque: el Índice de Confianza del Consumidor (ICC) es un instrumento ampliamente usado en el análisis económico debido a su mayor oportunidad…

 ‘Apertura e integración de Colombia a la red mundial de comercio: mucho ruido y pocas nueces’

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la Republica or its Board of Directors.

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la Republica or its Board of Directors.

RESUMEN NO TÉCNICO

‘La efectividad de la intervención cambiaria y la influencia de la incertidumbre sobre la tasa de cambio’

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la Republica or its Board of Directors.

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors.

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors

Although transactions of foreign exchange market intermediaries with the real sector in the peso-dollar market are low in comparison to the ones with offshore agents, it is important to understand the behavior of the real sector and its impact on the exchange market. This paper assesses…

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors.

The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors.