This document examines the time-series properties of the wage differentials that arise between the public and private sector in Colombia during the sample period 1984 to 2005. We find conflicting results in unit-root and stationarity tests when looking at wage differentials at an aggregate level...

This paper applies stationarity tests to examine evidence of market integration for a relatively large sample of food products in Colombia. We fi…nd little support for market integration when using the univariate KPSS tests for stationarity. However, within a panel context and after allowing...

This paper examines the linkage between two parallel stock exchanges trading the same shares in Colombia, namely the Bogotá Stock Exchange and the Medellín Stock Exchange. We provide empirical evidence to support the hypothesis that these two markets can be best described as fully integrated...

This paper studies the dynamics of lending and deposit rates in four emerging markets in Latin America: Argentina, Chile, Colombia and Mexico. The dynamics of interest rates exhibit a regime-switching behavior, where the transition from one regime to the other is controlled by the interest rate...

This paper proposes a simple Ordered Probit model to analyse the monetary policy reactionfunction of the Colombian Central Bank. There is evidence that the reaction function isasymmetric, in the sense that the Bank increases the Bank rate when the gap between observedinflation and the inflation...

This paper uses Colombian household survey data collected over the period 1984-2005 to estimate Gini coeficients along with their corresponding standard errors. We …find a statistically signi…cant increase in wage income inequality following the adoption of the liberalisation measures of the...