In the first half of the nineties, Colombian labor legislation faced profound transformations. Initially, the reforms seemed to produce positive effects as unemployment fell continuously, to below 8% in 1994. However, since 1995, unemployment has increased steadily, reaching in the last quarters...

This paper analyzes the effect of the number and age structure of children on women's wages in Colombia. On average, mothers earn 17.6% less than non-mothers. Because not all women participate in the labor market, sample selection is a potential issue and is therefore corrected. After...

This paper aims to show how relatively marginal changes in the Panel Study of Income Dynamics (PSID) survey, particularly on the measurement of both financial and human capital returns to entrepreneurship, can yield sizeable benefits for research and policy on entrepreneurship. Accurate...

This study identifies the main problems that Colombia faces and the medium and long term policies that it should follows in order to become a developed country. We concentrate on five relevant elements of development: Education, health and demography, poverty and income distribution, labor...

This research study has various objectives. First, to highlight the importance of investment in infrastructure on economic growth. Second, to underscore the need for a competitive and transparent process to implement these investments, which must be aimed at efficiency and obtaining a proper...

This study is a theoretical exercise for Colombia that aims to simulate a variety of scenarios under a hypothetical scheme similar to the multi-funds currently in operation in Chile, Mexico and Peru. This has been done by modeling the future movement of asset prices that are considered to be...

In this paper we analyze the short and medium term fiscal costs stemming from structural pension reform, taking Chile as workhorse. The Chilean pension system, based on individual capital accounts managed by the private sector, has been in operation for almost 30 years, providing a rich evidence...