This paper contains an empirical dynamic model of supply and demand in the market for digital cameras with endogenous product innovation. On the demand side, heterogeneous consumers time optimally the purchase of goods depending on the expected evolution of prices and characteristics of...

This paper analyzes the existence of intra-industry trade between Colombia and the United States, using the information of the CEPII BAC database for the period between 1995 and 2005. The relevance of establishing a measure of intra-industry trade flows between Colombia and the United States...

This paper evaluates the performance of 17 different parametric and non-parametric specifications and high frequency data for Colombian exchange market index (IGBC). We model the variance of the 10-minute returns using GARCH-M and TGARCH models that take in account the leverage effect, the...

In this paper I study how innovation investment in a software duopoly is affected by the fact that one of the firms is, or might become Open Source. Firms can either be proprietary source (PS) or open source (OS), and have different initial technological levels. An OS firm is a for profit...

This article discusses regional labor segmentation using stochastic Markov chains. We present a formal model and derive preliminary results using the evolution of wages in Colombian urban areas. The results show that there was regional labor market segmentation in wages for university graduates...

This paper reviews the main economic theories and international empirical applications that analyze demand for education. The document begins with a review of the theoretical background since the appearance of human capital theory proposed by Becker (1964), which made way to the emergence of the...

This paper analyses pecuniary and non-pecuniary effects of education on poverty. Two are the main contributions: first, the pecuniary analysis employs the technique of instrumental variable quantile regression, very helpful method when one is interested in the lowest or highest extremes of the...

Este ensayo explora, en forma experimental, cual es el efecto de las características socioeconómicas sobre la consistencia en las preferencias cuando los agentes se encuentran eligiendo entre loterías. El análisis parte de un experimento realizado con los estudiantes de la carrera de...

Este documento discute el efecto de la hipótesis de Camegie sobre la participación laboral en un contexto dinámico. Los resultados muestran que las herencias, regalos o loterías disminuyen la participación laboral. Por otro lado, este documento avanza en contrastar la hipótesis de...

Abstract: Using 18 different specifications of the GARCH-M model and high frequency datafor the Colombian exchange market index (IGBC), we evaluate the out-of-sample performanceof the models. The models considered take in account the leverage effect, the day-of-the-weekeffect, and the...