Servicios
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I. OBJECTIVE
To raise awareness on risk management among Banco de la República’s (BanRep) suppliers with the purpose of strengthening their knowledge of the risks and practices inherent in their processes to ensure adequate delivery of the products and services to BanRep as per their…
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Abstract
Although transactions of foreign exchange market intermediaries with the real sector in the peso-dollar market are low in comparison to the ones with offshore agents, it is important to understand the behavior of the real sector and its impact on the exchange market. This paper assesses…
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This paper contributes to the theoretical analysis of the informal sector in the search and matching framework. Building upon the work of Albrecht et al. (2009), where the informal sector consists of unregulated self-employment, I describe the search and matching equilibrium in an economy with an…
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The hypothesis that the internal public debt has played the role of shock absorber in Colombia since 1923 is modelled. 1923 was an important landmark in the history of Fiscal and monetary reforms in Colombia during the twentieth century. The econometric results offer a strong support for the…
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In this paper we estimate the effect of government consumption shocks on GDP using a panel of 21 developing economies. Our goal is to better understand the reasons for the low fiscal multipliers found in the literature by performing estimations for alternative exchange rate regimes, business-cycle…
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Banco de la República (BR) continues to carry out the necessary tasks for the intervention of the Amira de la Rosa Theater, seeking that the inhabitants of Barranquilla and all Colombians may enjoy this cultural venue again. The Special Management and Protection Plan (SMPP) was initiated in August…
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Presentación de Adolfo Meisel y Margarita Vega Acevedo en The 3rd International Conference on Economics and Human Biology
Université Marc Bloch, Strasbourg.
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The price setting behavior of Colombian retailers of goods and services was studied based on a unique dataset containing 12,052,970 individual price reports covering all items in the Colombian CPI from March 1999 to May 2008. The main results are summarized as follows: 1. Colombian consumer prices…
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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 study the determinants of sovereign default risk in Colombia by focusing on different time spans of risk which are indicated by yield spreads of government bonds with different maturities. Cointegration regressions are performed to analyze whether the drivers of short-run default risk are…
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This paper presents an estimation of expenditure needs and fiscal capacity of Colombia’s municipalities and departments in 2014. We use standard per capita norms to estimate the spending needs and data envelopment analysis for the local fiscal capacity.
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The long-run component of the Colombian unemployment rate is estimated for the last twenty years. According to the results, the main determinants of the permanent component of the unemployment rate are the real hourly wage, the non-wage labor costs and the rate of capital accumulation. Given the…
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The Colombian economy experienced several shocks in the past ten years. The permanent fall of inflation, the adoption of inflation targeting (IT) and a financial crisis altered the transmission mechanism of monetary policy. Low inflation and IT reduced inflation persistence and contributed to…
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In September last year, a blog was published announcing the quarterly publication of the National Accounts by Institutional Sector (CNSI in Spanish), which include the national accounts by the National Administrative Department of Statistics (DANE in Spanish) and the financial accounts by Banco de…
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We assess the effects of the Colombian Unemployment Subsidy (US) program on future labor participation, unemployment, formality, school attendance and earnings of its beneficiaries, on household earnings and school attendance of the household members, and on weight and height of their children at…
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We analyse three models to determine the conditions under which reserve requirements are used as a part of an optimal monetary policy framework in an inflation targeting regime. In all cases the Central Bank (CB) minimizes an objective function that depends on deviations of inflation from its…
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This year, Banco de la República will have a special celebration every month, on the occasion of its first 100 years of existence, a time in which it has played a fundamental role in the stability of the Colombian economy and in the cultural promotion in the country.
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Bogotá (Bogotá, D. C.; Cundinamarca)
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Our corporate portal www.banrep.gov.co will be undergoing scheduled maintenance starting at 7:30 p.m. on Friday, May 7. As a result, the services on the website will be intermittent, possibly presenting errors in the queries made throughout the night. Please take the necessary measures to reduce…
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