The current recession has highlighted the potentially severe impact of shrinkages in demand and fiscal austerity upon firm entry and survival. Using data covering broad manufacturing and service sectors in 17 countries this paper investigates how changes in fiscal policy and market size affect...

This study utilized both single-regime GARCH and double-regime GARCH models to investigate oil price volatility, Spanish macroeconomic factors, and stock prices during major crises such as geopolitical conflicts, the global financial crisis (GFC), and COVID-19, covering the period from Q2-1995...

Using data for the Chilean mining sector, we provide SVAR evidence in order to answer the research question regarding what are the distributional consequences that commodity price shocks have in labour market outcomes for heterogeneous workers at business cycles frequencies in a Small Open...

En este artículo se presentan modelos binarios logit y probit para analizar el impacto de la inflación de los activos financieros (acciones, vivienda y crédito) sobre la probabilidad de desaceleración económica en Colombia, para el período 1990-2011. Se determina el plazo (corto o mediano)...

We study the determinants of sovereign default risk in Colombia by focusing on different time spans of risk which are indicated by yield spreads of government bonds with different maturities. Cointegration regressions are performed to analyze whether the drivers of short-run default risk are...

En este documento se evalúa la respuesta de la política fiscal ante los choques de los flujos de capital registrados durante las dos últimas décadas en seis economías emergentes de América Latina: Argentina, Brasil, Chile, Colombia, México y Perú. Con base en la caracterización de los...

La reciente crisis financiera internacional volvió a dar relevancia a la formación de ciertos desbalances macroeconómicos que pueden aumentar las vulnerabilidades de una economía frente a choques adversos. En el caso de las economías emergentes, flujos elevados de capital podrían exacerbar...

La pérdida de importancia económica de la caficultura en Colombia, tanto en el contexto nacional como en el internacional, se explica, principalmente, por la caída dramática de su productividad; el consiguiente empobrecimiento de los caficultores, así como por el envejecimiento de estos y de...

This paper presents a novel monthly dataset of job vacancies in Bogota between 1960 and 2010. The dataset was constructed by counting the number of help-wanted announcements published in the most important newspaper with national circulation-namely, El Tiempo. We describe the methodology used to...

In this document we estimate credit and GDP cycles for three Latin-American economies and study their relation in the time and frequency domains. Cycles are estimated in order to analyze their medium and short-term frequencies. We find that short-term cycles are usually more volatile than...