Despite progress in the past decade, financial markets in Colombia remain relatively small and shallow. In particular the banking system suffers high intermediation costs, which limit constrains access to finance by households and firms. This paper explores some of the causes behind these...

Despite progress in the past decade, financial markets in Colombia remain relatively small and shallow. In particular the banking system suffers high intermediation costs, which limit constrains access to finance by households and firms. This paper explores some of the causes behind these...

This paper explores the connection between commuting costs and local employment dynamics, exploiting a spatial discontinuity introduced by a reform in France in September 2015. The reform, which reduced the cost of public transportation in selected areas of the Paris region without affecting...