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Sustainability of Latin American Fiscal Deficits: A Panel Data Approach

Robledo, Jacobo Campo; Velandia, Luis Fernando Melo - BANCO DE LA REPÚBLICA - 2011

: Argentina, Chile, Colombia, Ecuador, Panama, Peru, Paraguayand Uruguay. Using second generation cointegration panel data models …

Persistent link: https://www.econbiz.de/10009358982

Modelling autoregressive processes with a shifting mean

Terasvirta, Timo; González, Andrés - BANCO DE LA REPÚBLICA - 2006

This paper contains a nonlinear, nonstationary autoregressive model whose intercept changes deterministically over time. The intercept is a flexible function of time, and its construction bears some resemblance to neural network models. A modelling technique, modified from one for single...

Persistent link: https://www.econbiz.de/10005196682

Purchasing Power Parity and Breaking Trend Functions in the Real Exchange Rate

Joya, jair Ojeda - BANCO DE LA REPÚBLICA - 2009

This paper provides evidence of long run purchasing power parity by performing a recently developed method to test for unit roots in the presence of structural breaks. Data consist of real exchange rate series for 20 countries including developed and developing economies. Structural breaks are...

Persistent link: https://www.econbiz.de/10005051599

Too Late but Profitable: Railroads in Colombia during 1920-1950

Adolfo Meisel R.; María Teresa Ramírez G.; Juliana … - BANCO DE LA REPÚBLICA - 2014

1923 (the central bank, gold standard, banking legislation, fiscal reorganization), the coffee boom, and the unprecedented … dollars from the United States as compensation for its role in the separation of Panama from Colombia. Those reforms and the … growth in coffee exports also allowed for an enormous increase in foreign loans. The value of the loans obtained by 1929 came …

Persistent link: https://www.econbiz.de/10010885939

Health Status and Labor Force Participation: Evidence for Urban Low and Middle Income Individuals in Colombia

Iregui-Bohórquez, Ana María; Melo-Becerra, Ligia Alba; … - BANCO DE LA REPÚBLICA - 2014

This paper uses the first wave of the Colombian Longitudinal Survey (ELCA) to analyze the relationship between individual health status and labor force participation. The empirical modeling strategy accounts for the presence of potential endogeneity between these two variables. The results show...

Persistent link: https://www.econbiz.de/10010946012

A Historical Analysis of Central Bank Independence in Latin America: The Colombian Experience, 1923-2008

Meisel, Adolfo; Barón, Juan David - BANCO DE LA REPÚBLICA - 2009

study the experience of Colombia (1923-2008). Since its creation, in 1923, Colombia´s central bank has undergone several …

Persistent link: https://www.econbiz.de/10005014551

An Industrial Organization Analysis for the Colombian Banking System

Rozo, Sandra; Vásquez, Diego; Estrada, Dairo - BANCO DE LA REPÚBLICA - 2008

This paper presents two versions of a spatial competition model forthe banking sector. The first version, describes a framework that fol-lows closely Salop´s spatial competition model. This version is modi-fied in the second part by introducing the loan market and default riskprobabilities for...

Persistent link: https://www.econbiz.de/10005262660

El ahorro de los hogares en Colombia

Melo, Ligia; Zárate, Héctor; Tellez, Juana - BANCO DE LA REPÚBLICA - 2006

En este documento se presenta un análisis del comportamiento del ahorro de los hogares y sus determinantes, considerando una perspectiva de largo plazo para el periodo 1950-2004 y una de corto plazo a nivel microeconómico, utilizando la información de las encuestas de calidad de vida de 1997...

Persistent link: https://www.econbiz.de/10005262755

The Cyclical Behavior of Bank Capital Buffers in an Emerging Economy: Size Does Matter

García-Suaza, Andrés Felipe; Gómez-González, Jose … - BANCO DE LA REPÚBLICA - 2011

Using a panel of Colombian banks and quarterly data between 1996:1 and 2010:3, we study the relationship between short-run adjustments in bank capital buffers and the business cycle. We follow a partial adjustment framework and control for several variables that have been identified as important...

Persistent link: https://www.econbiz.de/10009643092

Lack of Credibility, Inflation Persistence and Disinflation in Colombia

Andrés González G.; Hamann, Franz - BANCO DE LA REPÚBLICA - 2011

This paper measures inflation persistence in Colombia for the period 1990-2010 and estimates the implied speed at which … associated to 100 basis points inflation target shocks and find that it is (0.83%) in line with previous estimates for Colombia …

Persistent link: https://www.econbiz.de/10009643481