Servicios
|
Abstract
In this paper, we analyze the tail-dependence structure of credit default swaps (CDS) and the global financial cycle for a group of eleven emerging markets. Using a Copula-CoVaR model, we provide evidence that there is a significant taildependence between variables related with the…
|
|
Abstract
Assessing the effects of U.S. monetary policies on portfolio flows is important for policymakers as they could pose risks to the effectiveness of domestic monetary policy. This paper analyzes the effects of the Global Financial Cycle (GFC) and Federal Reserve (Fed) unconventional monetary…
|
|
What is it?
The Global Money Week (GMW) is a global celebration that promotes efforts to improve the financial education of children and young people around the world. The goal is to ensure that this target audience has access to high-quality economic and financial education while learning about…
|
|
The opening event, led by the Office of the Financial Superintendent of Colombia with the participation of seven public and private entities, was held at the branch office of Banco de la República (the Central Bank of Colombia) in Buenaventura, in the department of Valle del Cauca.
Buenaventura…
|
|
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.
|
|
1. Economic growth
|
|
1. INFLATION
|
|
The Governor of the Banco de la República, Juan José Echavarría, participated in the XXXVIII meeting of the South American Central Banks Governors held on November 20 and which, on this occasion, was organized by the Central Reserve Bank of Peru. This meeting is held yearly and constitutes an…
|
|
In the framework of the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB) in Washington DC, the Governor of Banco de la República, Juan José Echavarría, held a bilateral meeting with the new Managing Director and Chairwoman of the IMF, Kristalina Georgieva.
In the…
|
|
This paper analyzes the role of the Great Depression and protectionism in the Colombian industrialization of the early 1930s as well as the role of other determinants in the rapid industrialization that took place during the period 1934-1953. We conclude that the market pushed industrialization by…
|
|
Abstract
We provide evidence of the negative effect of the minimum wage on labor market flows, such as job creation, job destruction, hiring, and separations in Colombia. Depicting firms' minimum wage (MW) compliance cost, we find evidence of an adverse effect of increases on MW compliance cost on…
|
|
Abstract
We study the labor market effects of the Venezuelan migration shock on female labor market outcomes in Colombia using a Bartik-instrument approach.For our identification strategy we leverage regional variation from pull factors and time variation from push factors. Our findings show that…
|
|
The Executive Board of the International Monetary Fund (IMF) approved a new Flexible Credit Line for Colombia for about US $ 11,400 million with a two-year term.
|
|
The Executive Board of the International Monetary Fund (IMF) concluded on 26 April 2023, its midterm review of Colombia's qualification for the arrangement under the Flexible Credit Line (FCL) and reaffirmed Colombia’s continued qualification to access FCL resources.The IMF’s press release…
|
|
To date, there is still great controversy as to which exchange rate model should be used or which monetary channel should be considered, when measuring the effects of monetary policy. Since most of the literature relies on structural models to address identification problems, the validity of…
|
|
The adoption of a managed regime assumes that interventions are relatively successful. However, while some authors consider that foreign exchange interventions are ineffective, arguing that domestic and foreign assets are close substitutes, others advocate their use and maintain that their effects…
|
|
Abstract
Extreme rainfall events are expected to become more frequent and more intense in the future. Because their mitigation is a challenge and their cost to human life is large, this paper studies the impact of preemptive investment against natural disasters on the future occurrence of…
|
|
The Impact of Transportation Infrastructure on the Colombian Economy 1905-1990: An Historical and Econometric Approach. The Impact of Transportation Infrastructure on the Colombian Economy 1905-1990: An Historical and Econometric Approach
|
|
The new Foreign Exchange Information System is to be gradually implemented in three stages. The first one, scheduled to begin in September 2021, will include innovations in the procedure to record investment transactions and operations without currency movements.
|
|
Abstract
Numerous studies exist about exports at the firm level in Colombia, but only a few exist about the market for imports and the importing firms. This study seeks to fill that gap by looking at the dynamics of imports, the market for imports and the role of importing firms in Colombia…
|
|
Using data from Medellín, second largest city in Colombia, we asses in this paper how a set of neighborhood characteristics determines wages and labor supply for workers in the city. We use GIS data to construct measures of the quality of environments where workers live. This paper focuses in the…
|
|
We present a stochastic frontier model with random inefficiency parameters which is able to capture the influence of risk-taking on bank efficiency and that distingues those effects among banks with different characteristics. Cost and profit efficiency are found to be over- and underestimated when…
|
|
The Institutional Repository was created to collect, preserve, and disseminate Banco de la República's documentary production on academic, economic, and regional issues, among others, with the purpose of making this information accessible to researchers and professionals, as well as to the general…
|
|
We study the interdependence between real commodity prices and world real GDP using long-term annual data since 1870, by performing two empirical exercises. First, we compute long-term and medium-term cycles and measure their degree of synchronization for different leads and lags. Second, we…
|
