This paper provides an overview of the reserve requirement measures undertaken by the Central Bank of Peru. It provides a rationale for the use of these instruments as well as empirical evidence of their effectiveness. In general, the results show that tightening reserve requirements has the...

Management is an important input into agricultural production, as it a determinant of the uptake and proper implementation of productive technologies and practices. While there is a large literature on evaluations of extension programs meant to improve management practices in agricultural...

This Working Paper assesses the impact on investment of a reduction in corporate taxes and the impact on employment, labor formality, and growth of a reduction in non-wage labor costs in Colombia. First, and following Hall and Jorgensen (1967), we estimate an investment function, which depends...

This paper attempts to identify the climatic effect on birth outcomes in Brazil and, thus, to predict the potential impact of climate change. Panel data models indicate that excess and lack of rainfall have the most important harmful effects on newborns' health; temperature stresses and low...

After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the...

The Peruvian economy has exhibited remarkable growth in the past 20 years. Good tax and monetary policies, along with comprehensive structural adjustment, which has attracted substantial foreign investment, are regarded as the pillars of this success. Notwithstanding the advances experienced on...

This paper studies the link between severe weather shocks in Colombia and municipality-level incidence of dengue and malaria. The unexpectedly high variability of the 2010 rainfalls relative to previous periods and their regional heterogeneity are exploited as an identification strategy. A...

This paper provides some evidence that repeat taking of competitive examsmay reduce the impact of background disadvantages on educational outcomes. Using administrative data on the university entrance exam in Turkey, the paper estimates cumulative learning between the first and the nth attempt...

The creation of non-contributory pension schemes is becoming increasingly common as countries struggle to reduce poverty. Drawing on data from Mexico's Adultos Mayores Program (Older Adults Program) --a cash transfer scheme aimed at rural adults over 70 years of age-- we evaluate the effects of...

This article makes three contributions to the literature. First, it provides new evidence of the impact of community monitoring interventions using a unique dataset from the Citizen Visible Audit (CVA) program in Colombia. In particular, this article studies the effect of social audits on...