Decentralised Provision of Quasi- Private Goods: The Case of Colombia

This paper quantifies the welfare effects of decentralisation in Colombia, using a multiregional CGE model.We investigate to what extent will the Colombian Population be better off when goods such as health and education, are delivered locally as against centrally. A provision scheme based on the median voter is consided.According to the results, the provision of health and education by regional governments improves the welfare of the Colombian Population as a whole, since regional governments provide goods and services in a way that better caters to local preferences. More importantly,these welfare gains vary from 1.3% to 2.3% of GDP, a substantial magnitude especially when compared with the efficiency gains associated to the tax reforms of the early nineties.Decentralisation, applied CGE modelling, quasi-private goods.

Tax Exporting:An Analysis Using a Multiregional CGE Model

This paper investigates whether developed countries export taxes to developing countries, contributing to the deterioration of their terms of trade and welfare; that is to what extent the distribution of gains from trade is being affected not by existing tariffs in developed countries, which are already at low levels but by their domestic taxation. An eight- region CGE model for the world economy is used. The results indicate that developed regions export capital taxes to developing regions. However, the effects of import tariffs on welfare and terms of trade are larger than those of domestic taxes.Tax exporting, applied CGE modelling

On the dynamics of lending and deposit interest rates in emerging markets: A non-linear approach

This paper studies the dynamics of lending and deposit rates in two emerging markets in Latin America: Colombia and Mexico. The dynamics of lending (deposit) interest rates are driven by the exogenous interbank interest rate and deviations from the long-run lending-interbank (deposit-interbank) interest rate relationship. Allowing for different interest rate behavior during periods characterized by large and small values of the spread, the non-linear specification proves superior to the linear one

On the Dynamics of Unemployment in a Developing Economy: Colombia

This paper estimates an asymmetric error correction model to analyse the dynamic behaviour of the Colombian unemployment rate. We find evidence that wages above their long- run equilibrium level do increase unemployment, but wages below this level do not reduce it.Unemployment, wage disequilibrium, labour market,cointegration, non-linearties, Colombia.

Testing the law of one price in food markets: evidence for Colombia using disaggregated data

This paper applies stationarity tests to examine evidence of market integration for a relatively large sample of food products in Colombia. We fi�nd little support for market integration when using the univariate KPSS tests for stationarity. However, within a panel context and after allowing for cross sectional dependence, the Hadri tests provide much more evidence supporting the view that food markets are integrated or, in other words, that the law of one price holds for most products.Law of one price; panel stationarity test; disaggregated pricedata, cross section dependence; Colombia.

Probing the stability of the spin liquid phases in the Kitaev-Heisenberg model using tensor network algorithms

We study the extent of the spin liquid phases in the Kitaev-Heisenberg model using infinite Projected Entangled-Pair States tensor network ansatz wave functions directly in the thermodynamic limit. To assess the accuracy of the ansatz wave functions we perform benchmarks against exact results for the Kitaev model and find very good agreement for various observables. In the case of the Kitaev-Heisenberg model we confirm the existence of 6 different phases: N\'eel, stripy, ferromagnetic, zigzag and two spin liquid phases. We find finite extents for both spin liquid phases and discontinuous phase transitions connecting them to symmetry-broken phases.Comment: 9 pages, 7 figures. Adjusted notation in equations 4-8. Added bond labeling to lower panel in figure 1. Included missing acknowledgement

Infinite Matrix Product States vs Infinite Projected Entangled-Pair States on the Cylinder: a comparative study

In spite of their intrinsic one-dimensional nature matrix product states have been systematically used to obtain remarkably accurate results for two-dimensional systems. Motivated by basic entropic arguments favoring projected entangled-pair states as the method of choice, we assess the relative performance of infinite matrix product states and infinite projected entangled-pair states on cylindrical geometries. By considering the Heisenberg and half-filled Hubbard models on the square lattice as our benchmark cases, we evaluate their variational energies as a function of both bond dimension as well as cylinder width. In both examples we find crossovers at moderate cylinder widths, i.e. for the largest bond dimensions considered we find an improvement on the variational energies for the Heisenberg model by using projected entangled-pair states at a width of about 11 sites, whereas for the half-filled Hubbard model this crossover occurs at about 7 sites.Comment: 11 pages, 9 figure

Recent Behavior of Output, Unemployment, Wages and Prices in Colombia:What went Wrong?

At the end of the last decade, the real activity in Colombia underwent the sharpest recession of the last fifty years. We postulate a non-triangular structural VAR model(Amisano and Giannini, 1997) to describe the dynamics of output, prices, unemployment and wages during the last two decades. The evidence suggests that, in the long-run, monetary policy has been neutral to both output and unemployment while the main reasons for the increase in the latter have been the lack of credibility of monetary policy, the way in which wages are set and the increase in non-wage labor costs.Structural VAR,unemployment,monetary policy, wages, expectations

Recent macroeconomic performance in colombia: what went wrong?

Al finalizar la d�cada anterior la actividad real en Colombia experiment� la m�s aguda recesi�n de los �ltimos 50 a�os. Para explicar este fen�meno, postulamos un modelo VAR estructural no-triangular que describe la din�mica de la producci�n, los precios, el desempleo y los salarios durante las �ltimas dos d�cadas. La evidencia sugiere que, en el largo plazo, la pol�tica monetaria ha sido neutral con respecto al producto y la desempleo, mientras que la principal raz�n para el incremento de �ste �ltimo se explica por la forma en que se han determinado los salarios (formaci�n de expectativas hacia atr�s) y el incremento de los costos no salariales.structural VAR, unemployment, monetary policy, wages, nonwage labour costs, expectations

Identificaction and geographhic distribution of major producer of Moringa oleifera in Tolima

Dada la importancia y los beneficios de la planta multipropósito Moringa oleífera y su empleo en el departamento del Tolima y el país, así como la ausencia de un sistema de gestión de información, en el presente documento se presenta un Sistema de Información Geográfica de esta planta en el departamento, por medio de la identificación de los principales productores y cultivos así como su distribución geográfica con el fin de promover su posición dentro de la cadena productiva.Due to the importance and benefits of multipurpose plant Moringa oleifera and its use in the region of Tolima and the country as well as the absence of a management information system, this document provides a Geographic Information System of this plant in the department , through the identification of major producers and farming as well as their geographic distribution in order to promote their position in the production chain