This paper analyzes some optimal fiscal, pricing, and capacity investment policies for controlling regional monopoly power in the natural gas industry. By letting the set of control instruments available to the social planner vary, we provide a characterization of the technological and demand...

This paper develops a model of the regulator-regulated firm relationship in a regional natural gas commodity market which can be linked to a competitive market by a pipeline. We characterize normative policies under which the regulator, in addition to setting the level of the capacity of the...

We propose a model where an autocrat rules over an ethnically divided society. The dictator selects the tax rate over domestic production and the nation's natural resources to maximize his rents under the threat of a regime-switching revolution. We show that a weak ruler may let the country...

ABSTRACT: This paper uses a two-sided market model of hospital competition to study the implications of different remunerations schemes on the physicians'side. The two-sided market approach is characterized by the concept of common network externality (CNE)introduced by Bardey et al. (2010)....

Abstract: We analyze the effect of a parametric reform of the fully-funded pension regime in Colombia on the intensive margin of the labor supply. We take advantage of a threshold defined by law in order to identify the causal effect using a regression discontinuity design. We find that a...

This paper empirically analyzes the relationship between familiar duties and job satisfaction in a developing country by using four different indexes. This analysis includes objective measures and subjective measures from data gathered in Colombia. In contrast to previous literature, objective...

This study proposes a new method for testing for the presence of momentum in nominal exchange rates, using a probabilistic approach. We illustrate our methodology estimating a binary response model using information on local currency / US dollar exchange rates of eight emerging economies. After...

We analyze the implementation process of the concept of labor informality into theColombian labor market. Taking this concept as departure point, we dissect labor market informality in Colombia, its main components and features. By using data from the 2010 GEIH-DANE household survey we contrast...

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...

This paper studies the e§ect of credit constraints and constraints on transfers between parents and children, on di§erences in labor and schooling across children within the same household, with an application to gender. When families are unconstrained in these respects, di§erences in labor...