An internationalization model is proposed for a Colombian company specialized in design and consulting engineering services related to the energy sector. The study of these services is relatively new in internationalization and competitiveness, therefore of great interest for research purposes....

Resumen:Los dos principales costos de transacción asociados a la liquidez en una bolsa de valores son el margen entre la oferta y la demanda (bid-ask spread"), para transacciones menores, y el impacto en el precio ("price impact") para transacciones de mayor volumen. Presentamos un...

El mercado de energía mayorista es uno de los sectores industriales más competitivos de Colombia, y representa uno de los ejes principales en la economía del país. Este mercado ha sido objeto de estudio de varias áreas de conocimiento como la ingeniería eléctrica, economía, finanzas y...

We develop a DSGE model of the Colombian economy to assess the effect of tax policy on informal employment and income distribution.The model recreates a small open economy, with persistent income inequality, a substantial degree of informality, and different possibilities of government...

Although the federal funds rate started rising from mid-2004 US long term rates continued to fall. A likely contributory factor to this conundrum was the contemporaneous increase in US bond demand. Using ARDL-based models, which accommodate structural breaks, this paper estimates the impact of...

La integración económica se encuentra reflejada en los crecientes intercambios de bienes, de capital financiero e inversión extranjera directa, hechos que han ocasionado una mayor sincronización de los ciclos económicos a nivel mundial. El artículo se introduce en el estudio de la...

Este trabajo analiza el impacto del boom minero-energético experimentado por la economía colombiana en el período 2004-2012 sobre la tasa de cambio real y la participación de los sectores manufacturero e industrial. Para ello se introduce el concepto de “Enfermedad holandesa extendida”,...

The deregulation process in the EU electricity sector triggered strategic decisions that led to industry restructuring. This paper presents preliminary evidence of the impact of this process on investors, using event studies and estimation techniques such as least squares and GARCH. Our findings...

According to firm lifecycle theory the agency costs of free cash flows are not transitory problems, but are a recurrent issue once firms reach a certain stage in their lifecycle. In particular, as firms mature their cash flows increase substantially while their investment opportunities decline...

Students´ test scores at ages 9 to 15 are a measure of their skills as workers five to 55 years later. Using historic data on test scores and school attendance, I calculate the share of workers in 2005 that could have scored above 400 and above 600 in 45 countries. I find that the share above...