This paper studies the dynamics of lending and deposit rates in four emerging markets in Latin America: Argentina, Chile, Colombia and Mexico. The dynamics of interest rates exhibit a regime-switching behavior, where the transition from one regime to the other is controlled by the interest rate...

On June 2000 the Colombian National Department of Statistics (DANE) adopted a new definition to measure unemployment following standards suggested by the International Labour Organisation (ILO). The change of definition implied a reduction of the unemployment rate of about two percentual points....

The purpose of this document is to present a survey of the main theoretical frameworks that deal with the subject of labour discrimination, along with a pedagogical description of the different . A particular chapter is devoted to present the consequences of discrimination for youth of some...

Este documento tiene el propósito de analizar el documento de Fedesarrollo: "Efectos económicos y sociales de la regulación sobre la industria farmacéutica colombiana: El caso de los estudios de bioequivalencia y biodisponibilidad de los secretos empresariales y las buenas prácticas de...

En este documento empleamos el filtro de Butterworth para analizar laproducción industrial total y por ramas de actividad mediante la extracciónde señales en las frecuencias bajas y altas. En las frecuencias bajas latendencia de la producción al interior del sector exhibe una dinámica...

In general, empirical studies on economics rely on the assumption of constant capitalshare of income both at the aggregate level and at the sector level. However, there is noempirical evidence supporting the constancy of capital share at the sector level. In thispaper, using Colombian data, we...

We asess evolution in perfomance, efficiency and productivity of Colombia's power distribution utilitiesbefore and after the 1994 regulatory reform that introduced electricity market activities for the power sector in 12 distribution companies from 1985 to 2001. Perfomance is evaluated...

In this paper, we attempt to analyze the determinants of unintended births among Colombian women aged 40 years old or more using data from the `Encuesta Nacional de Demografía y Salud ENDS- 2005, which is Colombia´s national demographic and health survey. Given the especial characteristics of...

Loans are illiquid assets that can be sold in a secondary market even that buyershave no certainty about their quality. I study a model in which a lender has accessto new investment opportunities when all her assets are illiquid. To raise funds, thelender may either borrow using her assets as...

In this paper I evaluate the impact of the 2001 decentralization reform in Colombia. I use data from Colombia's municipalities. I look at the effect of the 2001 reform on enrolment in pre-college schools. While all municipalities received earnmarked national transfers, withthe reform some of...