This report describes the survey that was carried out in 122 communities in rural Colombia bythe consortium formed by the Institute for Fiscal Studies, Econometria and SEI as the baselinefor the impact evaluation of Familias en Acción, a programme to foster the accumulation of human capital in...

This article extends the parametric portfolio policy approach to optimizing portfolios with a large numbers of assets (Brandt, et al. 2009). The proposed approach incorporates unobserved effects into the portfolio policy function. These effects measure the importance of unobserved heterogeneity...

This paper analyses Delta CoVaR proposed by Adrian and Brunnermeier (2008) as a tool for identifying/ranking systemically important institutions and assessing interconnectedness. We develop a test of significance of Delta CoVaR that allows determining whether or not a financial institution can...