Spanish Abstract: Aunque el impacto de la tasa de interés sobre la inversión en activos productivos es una de las razones esenciales de la política monetaria, son escasos los resultados de estudios en Colombia que cuantifican ese impacto. Desde el clásico artículo de Ocampo, Londoño y...

Este artículo interpreta la política exterior de Colombia de las últimas dos décadas como un periodo de tránsito desde un irremediable énfasis en la solución de problemas internos, hacia una política de mayor alcance y margen de maniobra. La situación caótica del país en los noventa...

This paper uses count and binary data models with endogenous switching, and propensity score matching to evaluate the effect of the subsidized health care program in Medellin (Colombia). The subsidized program, which primarily covers poor people, is found to have a negative association with the...

Economic tradition establishes that human beings' reproductive behaviour is based on rational actions. This theory is completely plausible; however, there is another part to this story, whatever else we may be, we are animals, and this biological heritage instinctively affects our reproductive...

The main objective in this paper is to obtain reliable long-term and short-term elasticities estimates of the beef demand in Colombia using quarterly data since 1998 until 2007. However, complexity on the decision process of consumption should be taken into account, since expenditure on a...

Spanish Abstract: En este artículo se exponen en primera instancia, las características relevantes de los diversos modelos que se han desarrollado a través de la historia con el objetivo de explicar el comportamiento que presenta la tasa de cambio nominal, y en segundo lugar, se realiza la...

We introduce a Bayesian instrumental variable procedure with spatial random effects that handles endogeneity, and spatial dependence with unobserved heterogeneity. We take into account the endogeneity through a system of simultaneous equations where a conditional correlation between the...

Food price elasticities (PE) are essential for evaluating impacts of food pricing interventions. Existing econometric estimates of food PEs are often poor, being based on single observational data sets without much variation in prices and failing to utilise prior information. In order to provide...

Stationarity is a common assumption in statistical inference when data come from a random field, but this hypothesis has to be checked. In this paper, we build a frequency domain statistical test to check a unit root for a spatial autoregressive model, and find its asymptotic distribution....

Identifying the true determinants of export diversification is difficult as there exists no comprehensive theoretical or empirical framework to capture all potential factors in their entirety. This paper uses Bayesian Model Averaging to uncover the true long-term roots of export diversification...