This paper examines the decentralization process in Colombia, particularly as it relates to reforms embodied in the 1991 Constitution, and the bailouts of territorial entities that have occurred in subsequent years as a result of perverse incentive structures. The paper provides a summary of the...

Using the 2003 and 2008 Quality of Life Surveys (QLS) conducted by the National Department of Statistics (DANE), this paper identifies the factors that affect housing tenure decisions in Colombia. Households with higher incomes are more likely to purchase than to rent, and the choice of formal...

This Working Paper assesses the impact on investment of a reduction in corporate taxes and the impact on employment, labor formality, and growth of a reduction in non-wage labor costs in Colombia. First, and following Hall and Jorgensen (1967), we estimate an investment function, which depends...

Como parte de un ambicioso programa de reformas iniciado con la reducción unilateral de aranceles en 1989, durante lo corrido de los noventa en Colombia se adoptaron medidas tendientes a redefinir la estructura y funcionamiento del sistema financiero. Así, se facilitó la entrada de nuevos...

Analiza aspectos del funcionamiento del mercado cambiario colombiano. Detalla la participación de los Fondos de Pensiones Obligatorias, se calcula un indicador de trading y se analiza el posible impacto de la regulación sobre la actividad de los Fondos de Pensiones Obligatorias en dicho...

The allocation of responsibilities between central and local governments and their fiscal relationship is one of the most important and complex issues of public finance. The general tendency around the world in the last decade has been toward more decentralization, that is delegation of more...

The allocation of responsibilities between central and local governments and their fiscal relationship is one of the most important and complex issues of public finance. The general tendency around the world in the last decade has been toward more decentralization, that is delegation of more...

Analiza aspectos del funcionamiento del mercado cambiario colombiano. Detalla la participación de los Fondos de Pensiones Obligatorias, se calcula un indicador de trading y se analiza el posible impacto de la regulación sobre la actividad de los Fondos de Pensiones Obligatorias en dicho...

This book analyzes the political economy of exchange rate policy in Latin America. It brings together the work of economists and political scientists interested in the interaction of economic and political factors in the development of exchange rate policy.