This paper considers an overlapping generations model in which capitalinvestment is financed in a credit market with adverse selection. Lenders´inability to commit ex-ante not to bailout ex-post, together with a wealthyposition of entrepreneurs gives rise to the soft budget constraint...

In parallel with the increasing availability of multiregional input-output (MRIO) tables, there has been a growing concern on IO modelling at lower levels of spatial disaggregation, to reflect the particular features of cities better. The urbanization process is one of the salient...

This paper proposes a political economy explanation of bailouts to declining industries. A model of probabilistic voting is developed, in which two candidates compete for the vote of two groups of the society through tactical redistribution. We allow politicians to have core support groups they...

Spanish Abstract: Aunque existe evidencia empírica sobre la demanda de vivienda y su dinámica de ajuste, es escasa la evidencia sobre el ajuste vía oferta. En particular, mínima es la evidencia sobre la cuantificación de elasticidad de la curva de oferta, elemento clave para equilibrar los...

In parallel with the increasing availability of multiregional input-output (MRIO) tables, there has been a growing concern on IO modelling at lower levels of spatial disaggregation, to reflect the particular features of cities better. The urbanization process is one of the salient...

This paper considers an overlapping generations model in which capital investment is financed in a credit market with adverse selection. Lenders’ inability to commit ex-ante not to bailout ex-post, together with a wealthy position of entrepreneurs gives rise to the soft budget constraint...

Se analiza el comportamiento de las exportaciones industriales de una muestra representativa de países latinoamericanos en el periodo 1990-2010, teniendo en cuenta el contenido tecnológico de las mismas y contrastándola con el desempeño de Estados Unidos, la Unión Europea y Corea del Sur....

En este documento se realiza una caracterización de las exportaciones industriales colombianas en el periodo 1990-2010, comparando la clasificación convencional de las exportaciones (tradicionales y no tradicionales) con la de los contenidos tecnológicos de Sanjaya Lall (2000) y resaltando...

We analyze the determinants of subjective returns of higher education in Colombia. The information on expectations has been collected in categories, motivating the use of interval regression and an ordered probit approaches for modeling the relationship between beliefs and measures of ability,...

This paper presents evidence of the effect of the recent phases of the business cycle in Spain and United States, proxied by their respective unemployment rates, on the labor market of Colombian cities with high migration tradition. These countries are the main destination for labor Colombian...