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ApproachThis study examines rental costs across various Colombian cities to understand their contribution to the cost of living and their recent evolution. A comparative index is constructed to measure price differences between cities, adjusting for housing quality and characteristics so that…

The story of poverty reduction in Colombia has two very different chapters. Between 2012 and 2019, poverty declined mainly due to demographic changes and the expansion of formal employment. However, the accelerated drop between 2021 and 2024 was driven primarily by the strong recovery of the labor…

ApproachThis study analyzes the agricultural credit system in Colombia, with a particular focus on access to financing by small-scale rural producers. It examines the policies of the National Agricultural Credit System (SNCA), the financial instruments managed by the Agricultural Sector Financing…

FocusAlthough Santander continues to rank among the departments with the highest gross domestic product (GDP) per capita in Colombia, in recent years it has shown a relative lag in its economic and social performance. In light of these trends, the purpose of this document is to examine the economic…

While motherhood is gradually shifting toward older ages, adolescent pregnancy persists in some regions of the country. Adolescent fertility must be understood as a phenomenon shaped by multiple dimensions, and its persistence constitutes a sensitive indicator of inequality.

In terms of logistics performance, the model indicates small but statistically significant effects: in months with at least one closure, freight volumes along the corridor fall by about 1%, while the average cost per kilogram increases by roughly 1%. 

The findings underscore the vulnerability of riverside municipalities to fiscal shocks and their dependence on intergovernmental transfers to sustain development. 

Natural Resource Funds (NRFs), or natural‑resource sovereign wealth funds, are special‑purpose investment funds that have become increasingly important tools for public asset and fiscal management in resource‑dependent countries worldwide.

Freely Convertible Currencies

  On the occasion of its fourteenth special edition, Banco de la República´s Ensayos sobre Política Económica (ESPE) journal invites you to the seminar on Challenges of Fiscal Policy in the face of the Recent Macroeconomic Uncertainty. It will take place on the 20th of October of this year, in…

Can technological misallocation generate financial frictions? We build a theoretical model with testable implications, in which the misallocation between R&D and production activities generates borrowing constraints. The investor offers the innovator a rent that is contingent to the success of…

In the last years, there have been a series of changes related to global trends in the supply of financial services. These trends include economic integration, technological change, increased competition, disintermediation, deregulation and financial crises.1 Colombia has not been apart from this…

Artículo publicado en: Emerging Markets Finance and Trade (M.E. Sharpe), vol. 48, num. 5, pp. 66-77, 2012.

Artículo publicado en: Agribusiness, vol. 29, num. 4, pp. 497-508, 2013. doi: 10.1002/agr.21319.  

Artículo publicado en: Economics and Human Biology, vol. 11, pp. 416–425, 2013

Artículo publicado en: Emerging Markets Finance and Trade (M.E. Sharpe), vol. 48, num. 4, pp. 50-66, 2012.  

Artículo publicado en: International Economic Journal (Taylor and Francis), vol. 26, num. 4, pp. 655-671, 2012.  

Artículo publicado en: American Journal of Agricultural Economics, vol. 94, num. 1, pp. 153–173, 2012.  

Artículo publicado en: Financial Markets and Portfolio Management (Springer), vol. 27, núm. 4, pp. 365-379, 2013.  

Artículo publicado en: Journal of Economic Dynamics and Control   

Artículo publicado en: Economics Letters, vol. 118, num. 1, pp. 29-32, 2013.   En este artículo se utiliza un enfoque de emparejamiento para probar la ley del precio único en las tasas de interés pasivas (activas) en Colombia. Los resultados indican que cuando los bancos son de diferentes…

Artículo publicado en: Economic Modelling (Elsevier), vol. 29, num. 5, pp. 1612-1617, 2012.  

Artículo publicado en: Portuguese Economic Journal, vol. 12, num. 1, pp. 35-56, 2013.

Artículo publicado en: Managerial and Decision Economics, doi: 10.1002/mde.2610, 2013.  

1. Who are considered residents and non-residents for foreign exchange purposes?2. What is a Foreign Exchange Transaction?3. What does it mean that a foreign exchange transaction must be negotiated and transferred through the foreign exchange market?4. Which transactions must be negotiated and…