This paper analyzes the measure of systemic importance ΔCoVaR proposed by Adrian and Brunnermeier (2009, 2010) within the context of a similar class of risk measures used in the risk management literature. Inaddition, we develop a series of testing procedures, based on ΔCoVaR, toidentify and...

This study examines ICT adoption among 3,759 Colombian manufacturing firms, and attemptsto identify the factors that are conducive to the adoption and usage of ICT at the firm level. Ourmajor findings are (i) that the adoption of a given information and communication technology isbetter...

Resumen: Este artículo evalúa uno de los componentes fundamentales de la política más icónica del gobierno de Álvaro Uribe: la Seguridad Democrática. En particular, se evalúa el impacto sobre la intensidad del conflicto armado de los despliegues y refuerzos de policía en municipios con...

This paper offers a productivity growth estimate for electric energy commercialization firms in Colombia, using a non-parametric Malmquist bootstrap methodology. The estimation and methodology serve two main purposes. First, in Colombia commercialization firms are subject to a price-cap...

Colombia introduced a market-determined Nominal Exchange Rate (NER) with the US Dollar in 1991, after more than 20 years of controlled and multiple exchange rates. The first nine years the NER was set by an exchange rate band system, since 1999 the exchange rate is determined in a dirty float"...

What is the relationship between the type of training combatants receive upon recruitmentinto an armed group and their propensity to abuse civilians in civil war? Does military training or political training prevent or exacerbate the victimization of civilians by armed non-state actors? While...

ABSTRACT: We analyze whether the introduction of unemployment insurance (UI hereafter)benefits in developing countries would reduce the effort made by unemployed to secure a new job in the formal sector. We show that one shot UI benefits unambiguously increase the effort to secure a new job in...

Abstract:We develop a model where a free genetic test reveals whether the individual tested has a low or high probability of developing a disease. A costly prevention effort allows high-risk agents to decrease the probability of developing the disease. Agents are not obliged to take the test,...

We develop a model in which two insurers and two health care providers compete for a fixed mass of policyholders. Insurers compete in premium and offer coverage against financial consequences of health risk. They have the possibility to sign agreements with providers to establish a health care...

ABSTRACTThis is a critical review of the empirical literature on the relationship between violence and economic growth in Colombia: an interesting case study for social scientists studying violence, conflict, crime and development. We argue that, despite the rapid development of this literature...