Now showing items 1-4 of 4
A Fiscal Rule to achieve debt sustainability in Colombia
In order to enhance fiscal sustainability and regain “investment grade” credit rating, in 2011 Colombia implemented a fiscal rule (FR) on the Central Government´s structural balance. Investment grade was rapidly attained, ...
The political economy of protection of some “sensitive” agricultural products in Colombia
Como parte de una amplia agenda de reformas estructurales, a comienzos de los años noventa Colombia emprendió un importante programa de liberalización comercial, enfocado principalmente en la reducción de aranceles. En las dos últimas décadas el uso extendido de barreras no arancelarias y de otras medidas de protección han reversado parcialmente el esfuerzo de liberalización, en particular para algunos productos agrícolas ...
Housing tenure and housing demand in Colombia
"Using the 2003 and 2008 Quality of Life Surveys, we identify the factors that affect housing tenure decisions in Colombia and explore the determinants of the demand for rentals and purchases. Variables affecting the choice between buying and renting include civil status, education, age of the household head, size of the household and whether the household resides in an urban area. Households with higher income are ...
Investment and exposure to exchange rate changes in Colombia
"We assemble a large data base of Colombian medium - large firms covering the 1997-2008 period and study different channels through which real exchange rate (RER) changes affect firm investment and profits. With regard to investment, (i) there are adjustment costs, presumably related to capital market imperfections, (ii) investment increases with liquidity as firms face restricted access to external financing, (iii) ...