This paper proposes a framework for a regional economic policy in Colombia. The regional characteristics and disparities of the country are studied, and regional disparities are shown to be both significant and persistent over time. This calls for a policy initiative to promote the development...

The recent financial crisis has renewed the interest of economists, both at the theoretical and empirical level, in developing a better understanding of credit and its mechanisms. A rapidly growing strand of the literature views banks as facing funding restrictions that condition their borrowing...

This paper studies whether the geographical separation of markets constitutes a factor that helps explain the dynamics of agricultural prices. To do this, we employ a highly disaggregated dataset for Colombia that consists of weekly observations on wholesale prices for 18 agricultural products...

We study the existence of a monetary policy transmission mechanism through banks in Colombia, using monthly banks’ balance sheet data for the period 1996:4 – 2012:12. We obtain results which are consistent with the basic postulates of the bank lending channel (and the risk-taking channel)...

El presente trabajo da cuenta de las principales lecciones que se han recogido en materia de política monetaria y financiera sobre la crisis actual, y traza un paralelo con la crisis colombiana de los noventa (guardadas las proporciones) y con las acciones que de ella se derivaron. Además...

In the context of financial crises influenced by the development and burst of housing price bubbles, the detection of exuberant behaviors in the financial market and the implementation of early warning diagnosis tests are of vital importance. This paper applies the new method developed by...

La participación del estado en la formación para el trabajo (FpT) se justifica por fallas contractuales en el mercado laboral y consideraciones redistributivas. Este ensayo: i) caracteriza la oferta de programas de FpT en Colombia—educación media vocacional, formación profesional técnica...

Este estudio provee evidencia microeconómica sobre la existencia y el grado de rigidez de los salarios nominales a la baja en Colombia, utilizando información a nivel de firma para el periodo 1999-2006. La rigidez se determina a través de varias técnicas estadísticas utilizadas en la...