Browsing by Author "Valencia, Oscar"
We present new measures of market power for the banking industry in Colombia and estimate their effect on the cost of credit for non-financial firms. Our results suggest that bank competition increased during the 2006-2008 ...Documentos de Trabajo. 2019-08-29
This paper studies fiscal multipliers in Colombia, an emerging economy with a high degree of inflexibility of expenditure at the sectoral level. The results show that the multiplier is almost twice as large in sectors in ...Documentos de Trabajo. 2020-07-03