This paper presents evidence of the effect of the recent phases of the business cycle in Spain and United States, proxied by their respective unemployment rates, on the labor market of Colombian cities with high migration tradition. These countries are the main destination for Colombian labor...

The Central Bank uses press releases after board meetings for at least three purposes: first, to justify policy measures based on the economic situation; second, to provide some forward guidance signals to agents; and third, to supply some further (latent) information to the markets. This...