Servicios
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Abstract
Small family farms account for 72 percent of the farms in the world. Most of these farms, in developing countries, face labor productivity gaps. One of the strategies to increase agricultural productivity focuses on implementing technical assistance programs. Using agriculture…
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Abstract
This paper estimates the marginal treatment effect of informality on wages for Brazil at the individual level using regional data on labor inspectors for identification. The results show that there is significant essential heterogeneity among otherwise identical workers that lead them to…
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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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1. Important Developments in 2006Mr. José Darío Uribe highlighted three important developments with respect to the Colombian economy during 2006:
Annual consumer inflation was 4.48% at December, which is on target with the objective set by the Board of Directors of Banco de la República.
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Inflation
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In this essay, the Colombian experience with internal and external debt since the end of the war up to 1970, is discussed. Following a common thread of previous essays, that experience is commented in the international context. The document highlights important similarities and contrasts…
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Although Colombia was not directly involved, the economic consequences of World War II had a clear influence on the macroeconomic policies applied in the country during the international conflict, and in the first few years that followed. This essay attempts to explore the role of internal public…
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The fragility of the corporate sector is usually assessed with traditional indicators related to the financial situation of companies such as insolvency, default, and bankruptcy. However, there are alternative indicators for studying the activity of the productive sector that do not usually receive…
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HPI - For the three major colombian cities - Index 1990 =100, Annual Data Series and Quarterly Data Series
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This paper investigates the possible responses of an inflation-targeting monetary policy in the face of asset price deviations from fundamental values.
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A recent research paper, authored by Jair Ojeda from Banco de la República (the Central Bank of Colombia), published in the Working Papers on Economics series, examines the impact of remittances from abroad on housing prices in Colombia. The study focuses on the analysis of remittance flow…
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Bogotá
(Bogotá D.C., Cundinamarca)
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Bogotá
(Bogotá D.C., Cundinamarca)
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Bogotá(only in Spanish) (Bogotá D.C., Cundinamarca)
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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 paper uses discrete-choice models to quantify the role of consumer socioeconomic characteristics, payment instrument attributes, and transaction features on the probability of using cash, debit card, or credit card at the point-of-sale. We use the Bank of Canada 2009 Method of Payment Survey,…
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As for the monetary policy instruments used to meet the inflation target, Banco de la República holds repo auctions to provide liquidity to the banking system by granting overnight loans, and occasionally longer ones, all with the purpose of bringing the overnight interbank rate (IBR) near to the…
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Paper presented al the "Investor Seminar at the time of the IMF/World Bank Annual Meetings 2009", for the panel "Emerging Markets in the Context of the End of the Global Recession", organized by JPMorgan.
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Abstract
From an analysis that is neither accounting nor financial but economic, Rincón-Castro and Delgado-Rojas (2017) calculate for Colombia the average effective rates of taxation on consumption and the factors of production labor and capital, for the period between 1994 and …
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This paper evaluates the role of rural infrastructure on the performance of some agricultural crops in Colombia. The study utilizes geo-referenced cross sectional data of four crops, coffee, rice, beans and plantains, collected for the majority of municipalities. Using genetic matching models, we…
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HOW UNCERTAÍN ARE NAIRU ESTÍMATES ÍN COLOMBÍA? HOW UNCERTAÍN ARE NAIRU ESTÍMATES ÍN COLOMBÍA?
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We provide evidence of private returns to education and of externalities which jointly render social returns to education in Colombia. The spillover is generated by the share of college-educated workers within the working-age population. Thus, the higher this share in the cities, the higher the…
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This paper provides evidence of positive externalities in human capital that help to explain divergences in development worldwide. We estimate the supply and demand for human capital using a five-year panel involving 60 countries and covering the period 1980-2000, and found that there exist…
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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 use hazard models to study the determinants of housing price bubbles’ duration. We answer two related questions: i). Does prolonged domestic monetary policy easing increase the duration of housing price bubbles? And, ii). Does prolonged monetary policy easing in the US influences housing bubbles…
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