This study investigates the informational role of thin options markets, specifically the Spanish options market. Firstly, we examine the effect of options markets by analysing stock market reaction to earnings news, conditional on the availability of options markets. Secondly, we examine options...

As theoretical microstructure models developed, several researches have empirically investigated the relevant role of transaction costs and its components in the stock market dynamics and their applications in several similar topics (corporate finance, market efficiency, etc.). Alternatively,...

This chapter examines the redistributive preferences of Latin Americans and investigates the factors that shape them. Using a detailed survey in eight Latin American countries, the study sheds new light on redistributive preferences and explores which aspects of redistribution are more popular...

Latin American and Caribbean countries have historically been known for their rates of land inequality, highest in the world. However, these countries also exhibit a high degree of heterogeneity in their patterns of land concentration and average farm sizes. These cross-country differences play...

Between 2014 and 2020 over 1.8 million refugees fled from Venezuela to Colombia as a result of a humanitarian crisis, many of them without a regular migratory status. We study the short- to medium-term labor market impacts in Colombia of the Permiso Temporal de Permanencia program, the largest...

This paper examines the effects of a government regularization program offered to half a million Venezuelan refugees in Colombia. For this purpose, 2,232 surveys of refugee families were collected and used to compare refugees who arrived in Colombia around a specified eligibility date in 2018....

This paper investigates how armed groups affect the organization of local communities during armed conflict in Colombia. We estimate the effect of communities' exposure to armed groups with an econometric specification that takes into account individual and municipality-year fixed effects and an...

By 2017, one-quarter of people born in El Salvador were estimated to be living in the U.S. We show that extreme temperatures have negatively affected agricultural production and increased international migration from El Salvador. We find that labor markets act as a transmission mechanism of the...

This paper investigates the impact of inequality on individual civic engagement at the community level, whether this impact persists over time, and what mechanisms may shape the relationship between inequality and civic engagement. The results show that inequality in Colombia is associated with...