Servicios
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Presented in New York.
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The system’s first phase has been launched with innovations in the procedures to record international investment operations and transactions. It is safe, agile, and easy to access at: https://www.banrep.gov.co/es/operaciones-cambiarias (only available in Spanish) selecting the "New Foreign…
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The Foreign Exchange Affairs and Settlements Department will launch the new Foreign Exchange Information System in September 2021 to gradually replace the Foreign Exchange Statistical System (SEC) used to transmit foreign exchange transactions. The new system will be available in three phases and…
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The new information system that will support the services of the Central Securities Depository (DCV), a financial market infrastructure essential for the custody, clearing, and settlement of transactions on public debt securities, the fiduciary management of Colombian securities, and the execution…
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The June meeting of the BDBR (#JuntaBanrep) started today at 8:30 a.m. This is their ninth meeting this year.
Monetary policy decisions will be made at today's meeting.
Until August, the benchmark interest rate completed 16 months unaltered at 4.25%. The last time this rate was lowered was on 30…
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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
Inequality in access to high-quality education can hinder the ability of education to promote intergenerational mobility. Looking at the case of Colombia, one of the most unequal and least mobile countries in Latin America, we evaluate whether contemporary differences in access to…
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Adam Smith Seminar. Schloss Spiez, Switzerland
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In this paper we explore the price setting behavior of Colombian producers and importers using a unique database containing the monthly price reports underlying the Colombian PPI from Jun-1999 to Oct-2006. We focus on five particular questions:
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The primary objective of monetary policy is to reach and maintain a low and stable inflation rate, and to achieve a long-term GDP growth trend.
This is the only way to achieve sustained growth rates that will generate employment and improve the population’s quality of life. Otherwise…
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In this paper we describe the relationship between the quality of goods and inputs of Colombian manufacturing firms and the income level of their export markets. We show that there is a positive correlation between measures of product and input quality and measures of per capita income of export…
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Abstract
This paper aims to provide evidence on the relationship between fiscal and monetarypolicy in Colombia through an empirical exploration of the credit risk channel. Underthis approach, fiscal policy plays an important explanatory role in the sovereign riskpremium, which, in turn, could…
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¿BRETTON WOODS II en dificultades? Banco de España, Madrid, España.
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Independence
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Colombian inflationary experience is explained using a theoretical model that stresses two elements: the effect of shocks and the type of policy designed to respond to them. The empirical investigation uses the event-study methodology and finds that the model successfully accounts for the main…
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Colombia has experienced a secular increase in the labor participation of urban women, going from nearly 47% in 1984 to 65% in 2006. We decompose the evolution of participation into changes in the composition of the population and changes in the participation rates by groups (defined according to…
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The recent financial crisis has brought to the forefront the need of a better understanding of the transmission mechanisms of monetary policy. The main step forward in this direction has drawn on work aimed at stressing the role of the financial sector in this transmission. Particular emphasis has…
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Levels of interest rates below historical norms may have enhanced financial instability in developed and developing economies during the 2000's. The risk taking channel of monetary policy transmission is a recent theory that explains the interaction between risk perceptions of the financial system…
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This paper builds a general equilibrium model that incorporates banks, financial frictions, default and a capital requirements. Ex-ante heterogeneous households decide how much to save or borrow for the sake of consumption (consumer credit) or the provision of housing services(mortgages). These…
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The mismatch between the skills of workers and the needs of companies is a problem that affects the efficiency of labor markets in developing countries. The vocational education sector as well as technical and technological education and skills certification are mechanisms for adjusting this…
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