This study constructs a new data set on unemployment rates in Latin America and the Caribbean and then explores the determinants of unemployment. We compare different countries, finding that unemployment is influenced by the size of the rural population and that the effects of government...

This study constructs a new data set on unemployment rates in Latin America and the Caribbean and then explores the determinants of unemployment. We compare different countries, finding that unemployment is influenced by the size of the rural population and that the effects of government...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>Proponents of inflation targeting (IT) claim that it increases the credibility of central banks, which in turn should result in smaller sacrifice ratios (SRs) – that is, the ratio of output losses to the change in trend inflation during disinflations. We show...</p>

We show that preferences, estimated with subjective measures of individual well-being, help to explain the adoption of certain types of institutions. In particular, we show that countries exhibiting greater inflation aversion are more likely to adopt the inflation targeting monetary regime.

Describe los hechos históricos del Renacimiento Europeo, y a partir de ellos, desarrolla un modelo de optimización dinámica. El modelo identifica los costos y los beneficios en el tiempo de una política de educación humanista sobre la cultura y la violencia. El análisis teórico concluye...

In this paper we explore the determinants of mortgage loans interest rates in Colombia during the period January 2002-June 2006. We find that the main macroeconomic determinant is public debt interest rates. At a micro level we find that credit risk is the main determinant. We show and analyze...

This study constructs a new data set on unemployment rates in Latin America and the Caribbean and then explores the determinants of unemployment. We compare different countries, finding that unemployment is influenced by the size of the rural population and that the effects of government...

After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...

Government intervention in the construction sector as a way to boost the economy has been a constant in Colombia for the past 90 years. This paper explicitly tests the impact of the most recent of such interventions: a subsidy to the mortgage interest rate. The results show that the subsidy...