Colombia's unemployment rate rose to 20% during the late 1990s from less than 8% in 1994. This paper argues that this has been the result of high non-wage labor costs embodied in the legislation. The estimated own-wage labor demand elasticity is around 0.5, which implies that a reduction in...

This paper applies a simple two-factor framework that separates shifts in the relative supply of and demand for more educated workers. The results indicate that the decrease in the skill premium between 1976 and 1981 is related to the reduction in the relative demand for skilled workers, and the...

This paper explores the relationship between macroeconomic conditions and urban income distribution in Colombia. The results show that unemployment and inflation have significant regressive effects. Manufacturing output growth is clearly progressive, as well as improved conditions in the rural...

Colombia's unemployment rate rose to 20% during the late 1990s from less than 8% in 1994. This paper argues that this has been the result of high non-wage labor costs embodied in the legislation. The estimated own-wage labor demand elasticity is around 0.5, which implies that a reduction in...

Colombia's unemployment rate rose to 20% during the late 1990s from less than 8% in 1994. This paper argues that this has been the result of high non-wage labor costs embodied in the legislation. The estimated own-wage labor demand elasticity is around 0.5, which implies that a reduction in...

Déficits fiscales que en promedio son apenas 1,4% del PIB, coeficientes de endeudamiento a la baja, cancelaciones anticipadas de las deudas con el Fondo Monetario Internacional y recompras masivas de los títulos Brady, que hace quince años fueron la última tabla de salvación para los...

Este trabajo presenta evidencia según la cual la crisis reciente del sector hipotecario en Colombia fue consecuencia del incremento en la relación entre el saldo de los créditos y el valor de las garantías (LTV o loan-to-value ratio) que aumentó la vulnerabilidad de los hogares al ciclo...

We re-examine the view that wars make strong states, taking advantage of panel data to address two of the most obvious endogeneity concerns that arise in this context: initial conditions and persistence of state capacity. Our main message is that, in modern times, there is no evidence that wars...