Colombian inflationary experience is explained using a theoretical model that stresses two elements: The effect of shocks and the type of policy designed to respond to them. The empirical investigation uses the event-study methodology and finds that the model successfully accounts for the main...

En la última década se ha reactivado el debate académico sobre los determinantes fundamentales del crecimiento a largo plazo. Por lo menos cuatro tendencias intelectuales han luchado por la supremacía. La primera, apoya la primacía de la innovación y la difusión tecnológica; la segunda,...

This publication contains a collection of papers presented within the framework of the Public Policy Management and Transparency Network: Development Effectiveness and Results-Based Budget Management, of the Regional Policy Dialogue and the PRODEV initiative. The paper topics cover four central...

This publication contains a collection of papers presented within the framework of the Public Policy Management and Transparency Network: Development Effectiveness and Results-Based Budget Management, of the Regional Policy Dialogue and the PRODEV initiative. The paper topics cover four central...

Un proceso efectivo de apertura debe afectar el comportamiento microeconómico de las firmas, una de cuyas características es la forma como fijan los precios de su producto final. Este artículo utiliza un mecanismo de fijación de precios basado en la aplicación de un margen de beneficios...

A price-setting mechanism based on a markup over variable costs is studied for the quite different inflationary experiences of Argentina and Colombia. The paper pursues a twofold strategy: first, it test the null hypothesis of a constant markup against the alternative of a variable one; second,...

In recent years, over ninety percent of all crimes in Colombia have gone unpunished. This paper addresses the reasons for this extreme unresponsiveness of the country's judicial system to high rates of violence, in particular since the end of the seventies when drug trafficking became a major...

This After 1991 Colombia witnessed a sharp fall in the national savings rate (see figure 1.1), and in particular that of the private sector. Two hypotheses have been advanced for explaining this behavior. The first one stresses consumption smoothing within the Perrnanent Income Hypothesis...

Las reformas adoptadas durante la primera mitad de los noventa buscaron mejorar el bienestar de los colombianos, en especial de los más pobres, elevando la tasa de crecimiento de largo plazo y mejorando la distribución del ingreso, mediante iniciativas de gasto en servicios públicos básicos...