Servicios
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In compliance with the personal data protection regulation (Law 1266 of 2008, Law 1581 of 2012, Decree 1074 of 2015, and other regulations that modify, complement, or replace them), BANCO DE LA REPÚBLICA (the Central Bank of Colombia), in its capacity as Data Controller, informs its policy and…
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Abstract
Rural schools are usually behind in terms of learning, and part of this could be related to geographical isolation. We explore this hypothesis, assessing the effect of distance between rural schools and local governments on learning in Colombia. We use spatial discontinuous regression…
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The gap in the quality of education between urban and rural households in Colombia is caused by multiple factors. Rural families have, on average, less education, and it is also more common for children growing up in rural areas to spend more time working. In addition, there are fewer educational…
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Fifth Summit Meeting of Central Banks on Inflation Targeting “Global Liquidity, Capital Flows and Policy Coordination” organized by Banco Central de ChileSession IV: Policy Responses to Exchange Rate Pressure Stemming from Capital Flows
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Global Money Week, scheduled to take place between March 22 and 28, will feature more than 100 activities, mostly virtual, organized by public, private and educational institutions.
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In a recently published blog on Banco de la República’s profits, it was shown that in 2023 these mainly came from the yield of foreign reserves, which in the last 10 years reached an average share of 84% of the Bank’s assets.
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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
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Conferencia de la Asociación de Economía de América Latina y el Caribe (LACEA)
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Exploiting spatial and temporal variations in the number of seizures from criminal organizations, I estimate regional fixed effects models of the increase in the number of properties confiscated on the main crime rates. From 2002 security strategies changed, and as a result, the effects on crime…
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Presented at the Government Borrowers Forum.
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Abstract
We investigate the impact of fiscal expansions on firm investment by exploiting firms that have multiple banking relationships. Further, we conduct a localized RDD approach and compare the lending behavior of banks that barely met and missed the criteria of being a primary dealer, as…
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Colombian Central Bank Governor Juan José Echavarría informed the Bank's board of directors today of his intention to resign upon completion of his four-year term at the end of 2020.
Though current statutes allow Central Bank governors to offer their names for re-election for up to two additional…
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Leonardo Villar
Governor
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In this document we use the Expectations Survey conducted monthly by the Central Bank of Colombia during the period of October 2003 – August 2012. We find that exchange rate revaluations were generally followed by expectations of further revaluation in the short run (1 month), but by expectations…
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The purpose of this paper is to estimate a model for gross capital flows for a sample of developing economies and assess their long-term determinants by using a panel co-integration approach. Results indicate that there is a co-integration relationship between key push and pull factors and gross…
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Abstract
The objective of the study is to evaluate the main determinants of the Colombian gross portfolio inflows and outflows from non-resident and resident investors and to study the role of the interest rate of the domestic monetary policy. The conceptual framework is the standard portfolio…
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There is large body of empirical literature devoted to study the relationship between inflation and long-run growth. Recently, levine and Renelt (1992) encouraged by new developments in growth theory investigated, within a unified framework, the effet of a number of variables on per capita growth.…
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Guidance material on the new Foreign Exchange Information System is available to explain how the system operates, major changes introduced and resolve any doubts regarding access, accreditation and navigation. There is also a quick tutorial on the new Foreign Exchange Information System’s…
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This guide summarizes the criteria that should help financial institutions, securities transportation companies, and users to identify the type of banknotes and coins that are unfit for circulation and should therefore be delivered to Banco de la República (the Central Bank of Colombia) to be…
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This paper uses the first wave of the Colombian Longitudinal Survey (ELCA) to analyze the relationship between individual health status and labor force participation. The empirical modeling strategy accounts for the presence of potential endogeneity between these two variables.
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The World Bank has proposed an alternative hedging instrument to be offered by the FRECH, instead of the collar-swap currently available. The suggested derivative corresponds to a European Cap option for the real interest rate, which could give greater flexibility to the hedging mechanism, allowing…
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Profession:Economist
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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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Abstract
This document studies the sources of liquidity used by financial entities that participate in the large-value payment system to meet their daily obligations. For this purpose, we design and implement an algorithm that breaks down the cash unit of these entities into different concepts of…
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