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The Effects of Diversification on Banks´ Expected Returns
Estrada, Dairo; Arbeláez, Angela González; Rueda, … - BANCO DE LA REPÚBLICA - 2008
question focusing in diversification of the loan portfolio, presenting a theoreticalmodel that considers the possible gains … from diversification, while taking intoaccount the effects of monitoring. Additionally, we present empirical evidence … resultssuggest that there are no possible gains form diversification in bank´s cost and that,on average, the effects of focusing the …
Persistent link: https://www.econbiz.de/10005597657
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¿Responden los diferentes tipos de flujos de capitales a los mismos fundamentos y en el mismo grado? Evidencia reciente para países emergentes
Arias, Fernando; Garrido, Daira; Parra, Daniel; … - BANCO DE LA REPÚBLICA - 2012
La crisis internacional al final de la década anterior produjo cambios importantes en el grado, tamaño y volatilidad de los flujos de capitales hacia los países emergentes, lo que se ha convertido en un reto para sus autoridades económicas, por los posibles efectos negativos que estos...
Persistent link: https://www.econbiz.de/10010763672
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Banking Fragility in Colombia: An Empirical Analysis Based on Balance Sheets
Lozano, Ignacio; Guarín, Alexander - BANCO DE LA REPÚBLICA - 2014
In this paper, we study the empirical relationship between credit funding sources and the financial vulnerability of the Colombian banking system. We propose a statistical model to measure and predict banking-fragility episodes associated with credit funding sources classified into retail...
Persistent link: https://www.econbiz.de/10010765009
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Fiscal policy in Colombia and a prospective analysis after the 2008 financial crisis
Lozano, Ignacio - BANCO DE LA REPÚBLICA - 2010
The purpose of this study is twofold: First, it provides an empirical characterization of fiscal policy in Colombia over the last decades, by assessing the three most relevant macroeconomic factors: the behavior of fiscal policy over the business cycle; whether it has been coherent with the...
Persistent link: https://www.econbiz.de/10008475938
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Modular scale-free architecture of Colombian financial networks: Evidence and challenges with financial stability in view
León, Carlos; Berndsen, Ron J. - BANCO DE LA REPÚBLICA - 2013
Scale-free (inhomogeneous) connective structures with modular (highly clustered) hierarchies are ubiquitous in real–world networks. Evidence from the main Colombian payment and settlement systems verifies that local financial networks have self-organized into a modular scale-free architecture...
Persistent link: https://www.econbiz.de/10010765007
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Macro-prudential assessment of Colombian financial institutions’ systemic importance
León, Carlos; Machado, Clara; Murcia, Andrés - BANCO DE LA REPÚBLICA - 2013
This document presents an enhanced and condensed version of preceding proposals for identifying systemically important financial institutions in Colombia. Three systemic importance metrics are implemented: (i) money market net exposures network hub centrality; (ii) large-value payment system...
Persistent link: https://www.econbiz.de/10010765010
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Bitcoin: something seems to be ‘fundamentally’ wrong
Gómez-González, José E.; Parra-Polania, Julián A. - BANCO DE LA REPÚBLICA - 2014
In the present paper we remark that the absence of an intrinsic or fundamental value represents a problem for the stability of the bitcoin’s price as an asset. In addition, we consider some financial stability concerns that derive from the hypothesis that the bitcoin will survive as an asset...
Persistent link: https://www.econbiz.de/10010770365
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Financial Stability and Interacting Networks of Financial Institutions and Market Infrastructures
León, Carlos; Berndsen, Ron J.; Renneboog, Luc - BANCO DE LA REPÚBLICA - 2014
An interacting network coupling financial institutions’ multiplex (i.e. multi-layer) and financial market infrastructures’ single-layer networks gives an accurate picture of a financial system’s true connective architecture. We examine and compare the main properties of Colombian multiplex...
Persistent link: https://www.econbiz.de/10010946009
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A Composite Indicator of Systemic Stress (CISS) for Colombia
Cabrera, Wilmar; Hurtado, Jorge; Morales, Miguel; … - BANCO DE LA REPÚBLICA - 2014
The most recent global financial crisis (2008-2009) highlighted the importance of systemic risk and promoted academic interest to develop a wide set of warning indicators, which are mechanisms to identify systemically important institutions and global systemic risk indexes. Using the methodology...
Persistent link: https://www.econbiz.de/10010783563
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Choques externos y precios de los activos en Latinoamérica antes y después de la quiebra de Lehman Brothers
Melo, luis Fernando; Rincón, Hernán - BANCO DE LA REPÚBLICA - 2012
La crisis financiera internacional entre 2007 y 2009 causó grandes y a la vez bruscos movimientos de capitales entre economías avanzadas y emergentes, que fueron acompañados por cambios de similares características en los precios de los activos de éstas últimas, lo que se convirtió en un...
Persistent link: https://www.econbiz.de/10010763670