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...

This paper presents a novel monthly dataset of job vacancies in Bogota between 1960 and 2010. The dataset was constructed by counting the number of help-wanted announcements published in the most important newspaper with national circulation-namely, El Tiempo. We describe the methodology used to...

Este documento explora algunos aspectos del mercado laboral urbano durante el último cuarto de siglo en Colombia. El artículo trata de identificar aspectos novedosos a través de datos que habían sido poco explotados anteriormente. El objetivo del artículo es abrir preguntas de...

Based on the counting of Help-wanted advertisements in print newspapers, we present national vacancy indexes and vacancy rates for Colombia. These series will allow tackling a myriad of questions related to the functioning of the labor markets in emerging economies, where such datasets were not...

This paper analyzes credibility in the Colombian exchange rate target zone. A model of imperfect credibility, in the spirit of Bertola and Svensson (1993) is derived, and is used to explain why the exchange rate in Colombia has remained for prolonged periods neathe borders of the zone. The main...

Research in international trade, both theoretical and quantitative, is increasingly focussedon the role of firm heterogeneity in shaping trade flows. One strand of the literature showshow firm-specific productivity shocks affect the mix of exporting firms and their foreign salesvolumes (e.g.,...

We examine Colombian export transaction data from customs records in several dimensions. We begin with some basic statistics on the number and frequency of export transactions by a firm, overall and across individual markets. We then decompose the variation in overall exports into the number of...

Desde enero de 1994 la política cambiaria colombiana se basa en un sistema formal de bandas para la tasa de cambio, mediante el cual el Banco Central se compromete a intervenir en el mercado cuando la tasa de cambio llega a unos determinados niveles mínimo y máximo, definidos anteriormente y...

El presente documento reúne una serie de notas que estudian aspectos empíricos del comportamiento de la tasa de interés y la inflación en Colombia. La presentación se divide en dos secciones. La primera analiza la relación entre la tasa de interés y la inflación, con el fin de evaluar el...