We carried out a randomized controlled trial in Bogotá, the recipient of Colombia´s highest number of internally displaced people (IDP), to assess whether the use of SMS to communicate eligibility to social benefits fosters the welfare of victimized internal refugees. Only a fraction of IDP...

The separation between ownership and the control of capital in banks generates differences in thepreferences for risk among shareholders and the manager. These differences could imply a corporate governance problem in banks with a dispersed ownership, since owners fail to exert control in the...

This paper empirically analyzes the relationship between familiar duties and job satisfaction in a developing country by using four different indexes. This analysis includes objective measures and subjective measures from data gathered in Colombia. In contrast to previous literature, objective...

This study proposes a new method for testing for the presence of momentum in nominal exchange rates, using a probabilistic approach. We illustrate our methodology estimating a binary response model using information on local currency / US dollar exchange rates of eight emerging economies. After...

We use annual data on capital´s share and relative factor prices from 35 US industriesfrom 1960 to 2005 to test the induced innovation hypothesis. We derive, from a productionfunction framework, testable implications for the effect of contemporaneous and lagged factorprice ratios on capital´s...

The growing empirical literature on the analysis of civil war has recently included the study of conflict duration at the cross-country level. This paper presents, for the first time, a within-country analysis of the determinants of violence duration. I focus on the experience of the Colombian...

In this paper I investigate the optimal level of decentralization of tasks for theprovision of a local public good. I enrich the well-known trade-off between internalization of spillovers (that favors centralization) and accountability (that favors decentralization) by considering that public...

We develop a model in which two insurers and two health care providers compete for a fixed mass of policyholders. Insurers compete in premium and offer coverage against financial consequences of health risk. They have the possibility to sign agreements with providers to establish a health care...

This paper analyzes the measure of systemic importance ΔCoVaR proposed by Adrian and Brunnermeier (2009, 2010) within the context of a similar class of risk measures used in the risk management literature. Inaddition, we develop a series of testing procedures, based on ΔCoVaR, toidentify and...

Resumen: Este trabajo hace una propuesta de política educativa para Colombia que permita mejorar la calidad de la educación básica, secundaria y media y así convertirla en una herramienta efectiva de movilidad social. Se muestra que Colombia ha tenido avances importantes en cobertura. Sin...