Servicios
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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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In this paper we discuss cost and profit efficiency for a sample of financial institutions on the Colombian financial market in the period 1989-2003, using stochastic frontier efficiency analysis. During the period, the cost efficient frontier deteriorates, but profit efficient frontier is…
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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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The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la Republica or its Board of Directors.
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The Colombian economy and financial system have coped reasonably well with the effects of the global financial crisis. Hence, "unconventional" policy measures have not been at the center of the policy decisions and discussions. Nominal short term interest rates have remained the main monetary…
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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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We carry out a reading analysis that consists of two elements. First, we observe the coherence between monetary policy actions and press releases. In this case, we found that inflation and growth are significant themes in the adoption of the policy measures between September 2004 and March 2016.…
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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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EFFICIENCY GAINS FROM THE ELIMINATION OF GLOBAL RESTRICTIONS ON LABOUR MOBILITY: AN ANALYSIS USING A MULTIREGIONAL CGE MODEL EFFICIENCY GAINS FROM THE ELIMINATION OF GLOBAL RESTRICTIONS ON LABOUR MOBILITY: AN ANALYSIS USING A MULTIREGIONAL CGE MODEL Ana María Iregui Estudios…
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This paper estimates the local efficiency of the public provision of education in Colombia between 2007 and 2014. The empirical analysis relies on a multiproduct function that assesses public performance considering two types of education products: quality and enrolment. Results for Colombian…
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In a small macroeconomic model of the Colombian economy I investigate the problem of selecting a policy rule that is consistent with inflation targeting. I spell out the characteristics of the optimal feedback and output parameters in the rule, as well as for the optimal forecasting horizon for…
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First developed by Markowitz (1952), the mean-variance framework is the most widespread theoretical approximation to the portfolio problem. Nevertheless, successful application in the investment community has been limited. Assumptions such as normality of returns and a static correlation matrix…
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The Eighth high-Level Political Dialog between the Eurosystem and Latin American Central Banks took place on 28 and 29 November in Cartagena de Indias. The meeting was organized jointly by the European Central Bank, Banco de España, and Banco de la República de Colombia, which hosted the meeting.
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Abstract
To study the recent dynamics of electronic payments in Colombia, Banco de la República carried out in 2020 a survey of the commerce sector on acceptance and usage of different payment instruments. The survey reveals merchants´ high levels of acceptance of electronic payment instruments…
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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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When citizens of a developing country decide to emigrate in search of a better future, their lives and those of their families are not the only ones affected. This decision can also have an impact on different aspects of the country of origin , such as income, inequality, the quality of its…
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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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