Book review of Stiglitz, J. E.; Greenwald, B. (2005): "Towards a New Paradigm in Monetary Economics", Cambridge University Press

This second paper from Mauricio Avella describes the complete cycle of capital exports originating in the United States in the 1920’s: the conversion of United States into a creditor nation; the role of New York as the dominant financial center; and the distribution of United States...

Latin American access to international markets since the beginning of the 19th century has depended on the cyclical behaviour of foreign indebtedness. This document studies Great Britain’s cycles of boom and recession in international credit and Latin American participation on the...

Determining the degree of informational asymmetry is a major topic in the literature of modern microstructure. In this paper, we review and analyze the suitability of the models for estimating the probability of informed trading [Easley et al., 1996; Nyholm, 2002, 2003]. The empirical analysis is...

This paper analyses the selection of teachers in basic and media education in Colombia under an adverse selection model. We monitor the teacher´s wages and the institutional change, and the results of one of the contests for Medellin. The relative wages of attachment to the teaching profession...

The main result of this paper consists in the resolution of the inverse problem for the Black-Cox (1976) model, using the method proposed by Sukhomlin (2007). Based on the backward approach, we obtain an exact expression of the implied volatility expressed as a function of quantifiable market...

The main result of this paper consists in the resolution of the inverse problem for the Black-Cox (1976) model, using the method proposed by Sukhomlin (2007). Based on the backward approach, we obtain an exact expression of the implied volatility expressed as a function of quantifiable market...

Spanish Abstract: Propósito - Se estudian los determinantes y la evolución de la actividad bursátil mensual en el mercado accionario colombiano de 2007 a 2016.Diseño/metodología/enfoque – Para ello se emplean modelos de series de tiempo tipo ARIMAX y GARCH, incluyendo variables exógenas,...

Hart has established necessary and su¢ cient conditions for the existence of equilibrium in an economy consisting of two time periods in which agents trade assets whose returns depend on an uncertain state of nature. Hammond has enounced an equivalent condition from an alternative approach to...