This paper explores the characteristics of the political economy process that conditioned the scope and success of the combination of fiscal reforms before and after Colombia's 1991 constitutional reforms. Using formal analysis of reforms and interviews with actors, reforms in taxation,...

This paper analyzes the effects of recent Venezuelan immigration to Colombia on the fiscal balance, the labor market, and economic growth. For this purpose, we built a dynamic general equilibrium model with a search and matching structure in the labor market. The higher fiscal spending to...

There are several factors that can lead to successful outcomes in asset management at central banks and monetary authorities. For instance, having a robust asset allocation model, highly experienced portfolio managers, and sophisticated quantitative tools for implementing investment strategies....