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The study presented here looks at the Colombian corporate sector broken down by city. In particular, it studies the eight main cities of the country. It is an initial study, maybe the first of its kind, and it aims to act as a foundation for future research in the area. A database…
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Margarita Gáfaro, manager of the Bucaramanga branch of Banco de la República, and José Antonio Ocampo, a member of the Board of Directors of Banco de la República, present some of the findings of an evaluation of experience in supporting family farming to generate income.
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In this paper we check the relationship between the yields of the Colombian bonds traded in the (secondary) internal market and the yields of the sovereign global securities for the sample period 1999-2001. The hypothesis we maintain is that, under the assumption of capital mobility, it should…
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This paper studies whether the geographical separation of markets constitutes a factor that helps explain the dynamics of agricultural prices. To do this, we employ a highly disaggregated dataset for Colombia that consists of weekly observations on wholesale prices for 18 agricultural products…
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We introduce a dispatch model of Colombia's independent system operator (XM) in order to study the relative merits of self-commitment vs. centralized unit comment. We capitalize on the transition that took place in 2009 from self-unit commitment to centralize unit commitment and use data from…
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In this paper we survey prominent theories that have shaped the literature on sterilized foreign exchange interventions. We identify three main strands of literature: 1) that which advocates the use of sterilized interventions; 2) that which deems sterilized interventions futile; and 3) that which…
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Abstract
The business cycle is the cycle in the output gap and also in a stationary measure of trend output. Both the output gap and trend output are driven by joint trend-cycle shocks. The model is a univariate trend-cycle decomposition with hysteresis in trend output that enables the estimation…
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In this paper the evolution in the average height of Colombians from 1910 to 1984 is analyzed. The anthropometric evidence reveals a sustained increase in the standard of biological welfare during this period. A database with more than 8.000.000 observations from the national citizenship card…
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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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Over the years, Banco de la República, the Central Bank of Colombia (BR), has structured a long-term cultural project that contributes to managing the nation's cultural heritage, promotes access to knowledge, and helps consolidate the sense of citizenship. It is through two great lines of work—…
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From: 2022
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Transparency is fundamental to accountability on the part of independent central banks. Because they have been granted greater independence, the transparency of these institutions is seen as a mechanism that offers society the ability to assess whether a central bank's actions are consistent with…
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The upcoming auction of the program for accumulation of international reserves through put options will take place on the 31st of October, amounting to USD 400 million. The options will be availble between the 1st and 30th of November of 2018.
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Banco de la República informs that:
The upcoming auction of the program for accumulation of international reserves through Put Options will take place on 3 December 2018, amounting to USD 400 million. The options will be in force from 4 December 4 to 28 December 2018.
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Abstract
Education in Colombia and Latin America is characterized by significant gaps in the quality of education as measured by standardized test scores. This paper assesses the impact of a Colombian program called SaberEs, which strengthens preparation for standardized…
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A document containing the objectives, strategies, projects, goals, persons in charge, budget distribution, and management indicators of the Bank's investment projects and the management report for the immediately preceding year.
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The Colombian tax system has multiple allowances and deductions but also supports a high degree of evasion. This means that the statutory or nominal rates, established by law, are an imprecise indicator of the true tax burden on taxpayers, whether they are consumers, individuals, or legal entities…
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General Objective The objective of this course is to provide the attendees with a high-level academic space, to study in depth advanced topics in macroeconomics, microeconomics, and econometrics. Moreover, it aims to promote the transmission of knowledge from those attending the course to…
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The new member of the Board of Directors studied economics at Universidad de los Andes and holds a PhD in Economy from the University of Illinois Urbana-Champaign. Between 1993 and 1997, Mr. Carrasquilla was the Deputy Technical Governor at Banco de la República.
Alberto Carrasquilla has…
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On August 2, 2021, the Board of Governors of the International Monetary Fund (IMF) approved a general allocation of Special Drawing Rights (SDR) for SDR 456 billion (equivalent to USD 650 billion). This allocation strengthens the international liquidity of the Fund’s 190 member countries by…
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