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An empirical model of the pass-through of international to domestic food inflation is proposed. The inflation rates and exchange rates of China and India are found to be significant in explaining imported food inflation in Colombia, 10,000 miles away. Notwithstanding the recent increase in…
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Abstract
According to the World Migration Report 2020, the number of international migrants increased from 84 million in 1970 to 272 million in 2019, accounting for 3.5% of the world’s population. This paper investigates the aggregated effect of emigration on the tax revenue of sending countries…
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Since: 2013 | Frequency: Biennial
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Since: 2013 | Frequency: Semesterly
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This paper provides empirical evidence of the impact of fiscal decentralization on Colombia's public basic education. Based on the social and economic data available for 1,003 municipalities and 13,670 public schools, for the last decade, we confirmed that decentralization has had a positive and…
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Since: 2003 | Until: 2016
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The Enterprise Risk Management (ERM) of Banco de la República (the Central Bank of Colombia, Banrep) is a set of policies, strategies, practices, procedures, methodologies, controls, and/or limits established to identify, measure, control, monitor, and report the organization’s risks in a timely…
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The effect of the Global Financial Crisis (GFC) has been substantial across markets and countries worldwide. We examine how the GFC has changed the way equity markets group together based on the similarity of stock indices’ daily returns. Our examination is based on agglomerative clustering methods…
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ApproachThe Global Financial Cycle (GFC) is a common movement of financial variables transmitted to emerging economies through various channels. During periods of GFC expansion, emerging economies tend to exhibit higher capital inflows, increased asset prices, and better conditions for accessing…
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This study analyzes the constraints faced by small farmers in Colombia in accessing formal credit. Through a literature review and an empirical analysis, it identifies frictions that constrain small farmers' access to credit by increasing costs for financial intermediaries or discouraging producers…
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Summary
The country’s foreign revenues studied in this document include the current account component of the balance of payments, which are made up by exports of goods and services, income from investment and other Colombian assets abroad, and current transfers, which include workers' remittances…
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The Colombian pension system is composed mainly of two alternative schemes: a public pay-as-you-go (PAYG) system administered by Colpensiones, and an individual savings system, which includes several private managers. There are also special regimes, some fully in force and others gradually…
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Enfoque
Este artículo responde la pregunta: ¿ha sido el atraso en la provisión de infraestructura de transporte en Colombia, ocasionado en parte por niveles históricamente bajos de inversión, un obstáculo importante para su crecimiento económico, integración regional e internacional? La pregunta…
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La revista Ensayos Sobre Política Económica (ESPE) del Banco de la República de Colombia proporciona, en un lenguaje accesible, información y análisis rigurosos y actualizados sobre temas relevantes para Colombia y la región, relacionados principalmente con la macroeconomía y el desarrollo…
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Since: 1982 | Frequency: Bimestral
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Abstract<
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Abstract
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Presentation at the IEA. World Congress: International Economic Association 2017
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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
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Estimating credibility in Colombia's exchange rate target zone Estimating credibility in Colombia´s exchange rate target zone
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We estimate a dynamic model of mortgage default for a cohort of Colombian debtors between 1997 and 2004. We use the estimated model to study the effects on default of a class of policies that affected the evolution of mortgage balances in Colombia during the 1990's. We propose a framework for…
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