Servicios
IMF Statistics Department Seminar. Washington, United States
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Since: 1969
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We assess the causes and implications of the greater nancial participation in commodity markets post-2003. Focusing on crude oil, we build a calibrated macro-nance model of oil prices and quantities that also determines consumer welfare. We show that shifts in the preferences and constraints of …
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High-altitude climbers know very well that the descent from the top can be as dangerous as the ascent, so they advance cautiously in this second stage of the journey to ensure a healthy return home. Something similar could be said of monetary policy. Risks do not disappear in the decline period of…
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This year, Banco de la República (the Central Bank of Colombia) hosted the 114th Meeting of Central Bank Governors of the Center for Latin American Monetary Studies (CEMLA in Spanish). This meeting was held within the framework of the 100th anniversary of Banco de la República.
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The economic research of 30 central banks in OECD and Latin America countries from 2000 to 2007 is evaluated in this study. An international comparison based on four indexes that measure central bank research output, demand, productivity and relevance is included. From this view, the European…
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The purpose of this paper is to analyze the links between central bank independence and foreing exchange policies, in the light of the recent experience of the major Latin American countries. To that end, the paper starts with a brief review of the literature on the subject. The second section of…
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Central bank transparency refers to the clear and open communication of key information to the public by monetary policymakers. This includes the dissemination of data, forecasts, and decision-making processes that affect the economy. Transparency reduces the information gap between what monetary…
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Formats
Intervention Rate
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General ObjectiveBanco de la República (the Central Bank of Colombia) and the Network of Researchers in Economics provide the Central Banking course. It is a free course to study in depth topics related to macroeconomics and monetary policy, along with a significant component of analysis and…
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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.
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This section presents information about central national government operations under two methodologies, summarized below:
The first set corresponds to a measurement of cash operations. This series includes historical information from the National Department of Planning and the latest official data…
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This section presents information about central national government debt, summarized in the next tables:
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This section presents information about central national government debt, summarized in the next tables:
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This section presents information about central national government debt, summarized in the next four tables:
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The first step towards dematerializing securities in Colombia began when Law 27 was adopted in 1990, authorizing the creation of central securities depository management companies.
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Certificate of submission of the fiscal account to the Office of the Comptroller General of ColombiaThis document contains the information submitted annually by Banco de la República (the Central Bank of Colombia) through the Electronic Submitting System of the Account and Reports (SIRECI by its acronym Spanish) of the Office of the Comptroller General of Colombia, corresponding to the modality “…
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Place of Birth: Pereira, Risaralda
Date of Birth: August 3, 1942
Profession: Graduate in Philosophy and Letters
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The Steering Committee of the Benchmark Banking Indicator (IBR in Spanish) modified the schedule for the presentation of the IBR formation scheme quotes for overnight and 1-, 3-, 6- and 12-month terms, for the timeframe between 10:45 a. m. to 11:00 a. m. The results will be published by Banco de la…
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The Board of Directors of Banco de la República informs that it will continue to meet 12 times a year, but that, in principle, decisions regarding the benchmark interest rate will only be made in 8 of them. The Board will continue to consider other topics of its competence in all of the meetings.
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Using a stylized model in which output is measured with error, we derive the optimal policy response to the demand shock signal and to changes in the measurement error volatility from two different perspectives: the minimization of the expected loss (from which we derive the ‘standard’ policy) and…
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