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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Las opiniones contenidas en el presente documento son responsabilidad exclusiva del autor y no comprometen al Banco de la República ni a su Junta Directiva.
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This paper looks at the effects of income from international migration on household behavior in the
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In March 2020, the Covid-19 pandemic disrupted educational activities usually carried out in person. To mitigate the cost of closing educational institutions, governments and school and university administrators chose to maintain training processes through virtual tools and other means. However,…
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To comply with the constitutional mandates, the Congress issued Law 31 of 1992, entrusting the Board of Directors of Banco de la República (BDBR) with the task of determining the conditions under which temporary liquidity support (ATL in Spanish) resources are provided, but setting the following…
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The following are the approved intervention mechanisms for Banco de la República (the Central Bank of Colombia).1. Sale of put options (options to sell foreign currency to the Bank) or call options (options to buy foreign currency from the Bank).
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Reserve requirementsTraditionally, the reserve requirement for credit institutions is defined as a minimum percentage of the liabilities they must maintain in cash on hand or deposited at Banco de la República (the Central Bank of Colombia). This requirement allows institutions to have an adequate…
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Informational constraints may turn the Merton Model for corporate credit risk impractical. Applying this framework to the Colombian financial sector is limited to four stock-market-listed firms; more than a hundred banking and non-banking firms are not listed.
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The study evaluates the virtues of asymmetric trimmed means as efficient estimators of inflation for Colombia, an economy with high and variable inflation rates. Results suggest that the proposed indicators are more efficient than alternative indexes and are particularly suited for environments…
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On August 02, a meeting will be held with commercial banks, unions, and trade representatives to socialize the actions implemented for the supply of banknotes and coins, and the new services that will be available in the city.In Montería, as in other cities, Banco de la República (the Central Bank…
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This event is private. Guests are allowed with invitation only.
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Although the existence of wage gaps that favor men over women is well known and is explained by multiple factors, there is little discussion of what happens in the opposite case when the women in the households earn more money than the men. In particular, international studies suggest that…
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In this paper I consider the following problem: there is a collection of exogenously given socially feasible sets, and for each one of them, each one of a group of individuals chooses from an individually feasible set. The fact that the product of the individually feasible sets is larger than the…
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Abstract
The covid-19 pandemic distorted the pattern of household consumption. Consequently, the official fixed basket CPI could be measuring inaccurately the evolution of inflation. The exercise presented in this document, was to update the weighting structure of the basket with alternative…
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During the last two months of 2017, inflation in- creased somewhat more than expected, closing the year at 4.09%. This behavior is explai- ned by the acceleration of the consumer price index (CPI) excluding food, whose annual variation to December stood at 5.01%. Within this last group, all large…
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Inflation expectations correspond to what economic agents believe inflation will be in the future. This is a variable that is relevant to monetary policy and to the general performance of the economy since it influences how the prices for goods and services, wages, and the prices of financial…
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Inflation expectations in Colombia are characterized. Empirical evidence following conventional tests suggests that they might not be rational, although the period of disinflation included in the sample makes it difficult to ascertain this conclusion. Inflation expectations display close ties with…
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The Box 2 of the Banco de la Republica's most recent Monetary Policy Report analyzes the increase in the prices of Colombian imports. Graph B2.3 of the above shows dollar price indices of Colombian imports in FOB and CIF values from January 2019 to April 2021. FOB values correspond to…
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In 2010, the annual CPI variation was 3.17%, this figure being close to the midpoint of the inflation target range (between 2% and 4%) fixed for this year by the JDBR, the Board of Directors of Banco de la Republica, the Central Bank of Colombia.
In the past quarter, the so-called “La Niña”…
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At the end of 2012 annual inflation stood at 2.4%, lower than the long-term target (3%) and within the year’s target range (2%-4%) (Graph A). Fourth-quarter inflation results were lower than average market expectations and also below the rates expected by Banco de la República’s technical staff.…
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