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Abstract Price dispersion is a prevalent feature even of markets where, arguably, homogeneous good are traded. At the heart of the causes of price dispersion lie the firms’ strategic interactions with their customers and rivals. Consumers’ eagerness and ability to search for lower prices tends to…

Abstract This document offers an exercise that quantifies on the Colombia CPI the maximum possible impact in accounting terms of some price reliefs decreed by the national government. This impact would not necessarily coincide with the official CPI figures, due to the presence of multiple…

A price-setting mechanism based on a markup over variable costs is studied for the quite different inflationary experiences of Argentina and Colombia. The paper pursues a twofold strategy: first, it test the null hypothesis of a constant markup against the alternative of a variable one; second, it…

This paper can be divided into two main parts. The first one, using a simple example by Minford (2004) and Hatcher (2011), gives the reader a basic introduction to understand the comparison between two monetary-policy regimes: Inflation Targeting (IT) and Price-Level Targeting (PLT).

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

A minimum performance insurance in the Principal-Agent problem is wealth reducing to the principal. This result points to further inefficiencies in mandatory individual Pension Funds' contracts, particularly the one established in the 1993's 100th Law in Colombia.

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

Producer Price Index (PPI), summasry, PPI produced & consumed goods, PPI exported goods, PPI imported goods, PPI national total

Producer Price Index (PPI), summasry, PPI produced & consumed goods, PPI exported goods, PPI imported goods, PPI national total

The Producer Price Index (PPI) measures the average change over time in prices from the first commercial transaction for a basket of products. It excludes services. (for details see methodological document http://www.dane.gov.co/index.php/precios-e-inflacion/indice-de-precios-al-productor).

We study the relationship between total factor productivity (TFP) and exporting decisions for Colombian manufacturing firms during 2005-2013. We find that productivity increases a firm's probability of being an exporter, and that exporters have higher productivity, with a premium as high as 85…

In this paper we present estimates for the coefficients of a production function, and the corresponding total factor productivity (TFP) for the Colombian manufacturing industry during 2005{2013. We follow several structural microeconometric techniques to estimate the production function parameters…

The Board of Directors of Banco de la República decided to end the program of accumulation of reserves announced in September 2018. It considers that the current level of international reserves and the expected result of the renegotiation of the Flexible Credit Line with the IMF will cover the…

This document includes the investment programs and projects contained in Banco de la República’s (the Central Bank of Colombia) medium-term expenditure framework and their corresponding budget execution.

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.   ABSTRACT  

The Real Exchange Rate Index is a measure of purchasing power parity of a currency relative to another currency (or basket of currencies). It compares the value of a basket of goods in two different countries expressed in the same currency.    Formats

 

Banco de la República informs that 30 December 2019 will be the last day of the year open to the public. There will be no public attention on 31 December. Regular schedules will be maintained for the remaining days of the month. 

Apartado Aéreo: 3551 de Bogotá. NIT: 860.005.216-7 RUT Banco de la República Welcome! Banco de la República has a Public Service System (SAC)to handle or manage requests, complaints, claims, suggestions and reports (PQR). A PQR requests, complaints, claims, suggestions and reports may be…

Likewise, Bank employees will not make public presentations or statements, nor will they meet with investors, analysts, or journalists. See additional information in  "Banco de la República transforms its Communication Scheme for Monetary Policy Decisions"

See additional information in  "The Board of Directors of Banco de la República notifies updates to some of its calendar of monthly meetings and monetary policy announcements"