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Does independence matter? The case of the Colombian Central Bank
(1998-08)
"Why has Colombia been a case of low output variability and moderate-to-high inflation? This paper argues that regardless of the institutional arrangement, monetary authorities have stabilized the business cycle, and inflation control has not been the only objective of monetary policy. The government-controlled Junta Monetria (1963-1991) often ignored the advice of the Asesores, an anti-inflation group of technocrats ...
Changes in the distribution of income and the new economic model in Colombia
(1998-08)
As the evidence presented in this paper shows the structural reforms have been related to higher income concentration in Colombia, a country with already impressively high levels of inequality. For this reason, a better ...
Demanda de trabajo, impuestos a la nómina y desempleo en Colombia
(1998-07)
The paper starts by describing and measuring cost implied by the regulation. In then estimates labor demand equations in order measure the relevant short and long run price and output elasticity s.
Oil, coffee and the dynamic commons problem in Colombia
(1998-04)
"The dynamic commons problem aries when different groups in society engage in intense redistributive activity as a result of an export boom. This paper analyzes the role that institutions play in ameliorating that problem in the case of coffee and oil in Colombia, The paper presents model that rationalizes the existence of a federatior, of coffee producers that effectively reduces inefficient redistribution to other ...