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1.       What are foreign reserves and what are their current levels?

Questions related to the coin exchange Where can the public purchase the commemorative coin of the Battle of Lake Maracaibo and the Declaration of 24 July as the Colombian Navy Day? The commemorative coin of the Battle of Lake Maracaibo and the Declaration of 24 July as the Colombian Navy Day…

On February 14, 1903, R. G. Fay, a gunpowder expert from the United States sailed for Cartagena, Colombia aboard the Allegheny, a steamer that belonged to Hamburg Amerika Linie. Fay described the ship as a "fruit boat". All along his trip to South America and back, he wrote a journal. He also took…

R&D intensity for small firms is high and persistent over time. At the same time, small firms are often financially constrained. This paper proposes a theoretical model that explains the coexistence of these two stylized facts. It is shown that self-financed R&D investment can distort the…

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. 

Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of…

With the Payment Systems Report, every year, the Central Bank of Colombia provides a thorough overview of the local financial market infrastructure.

  Bogotá   (Bogotá D.C., Cundinamarca)

Abstract Behavioral Equilibrium Exchange Rate (BEER) models suggest many variables as potential drivers of equilibrium real exchange rates (ERER). This gives rise to model uncertainty issues, as ERER depends and varies, often drastically, on a particular set of chosen variables. We address this…

Por Ricardo Ffrench-Davis y Leonardo Villar”, en Ricardo Ffrench Davis (ed.), Seeking Growth under Financial Volatility, Palgrave-Macmillan, New York, 2006. 

In 1995, when contagion from the tequila crisis was spreading in Latin America, both Chile and Colombia were exempt from contagion and presented high rates of economic growth. Several analysts attribute this positive performance to the fact that both had undertaken prudential measures to avoid…

CPI Monthly Percentage Change, Real Value Unit

   

At the end of the last decade, the real activity in Colombia underwent the sharpest recession of the last fifty years. We postulate a non-triangular structural VAR model (Amisano and Giannini, 1997) to describe the dynamics of output, prices, unemployment and wages during the last two decades. The…

Banco de la República (the Central Bank of Colombia) is responsible for ensuring the supply of banknotes and coins  in its different denominations, which it does by distributing payments to the different credit institutions, commercial establishments and to the general public. For their part,…

Abstract The studies aiming to answer if wealthier areas in Colombia are growing at a slower pace than poorer areas have yielded mixed results. This chapter updates such estimates of unconditional beta convergence of the GDP per capita for the first years of the 21st century, when substantial…

The opinions expressed in this document are those of the authors and do not necessarily reflect the views of Banco de la República or its Board of Directors..   ABSTRACT  

Read the latest Regional Economic Bulletins (Boletines Económicos Regionales, BER), which gather information on economic activity in eight regions of the country during the first quarter of the year.

The Regional Economic Bulletin is a quarterly publication produced since 2003, whose purpose is to provide economic agents and the general public with periodic, reliable, and timely information on the evolution of the main economic activity variables of the country's regions according to the Banco…

Translated summaries available since: 2025 | Spanish since: 2003 | Periodicity: Quaterly