Unveiling the Meaning of Social Justice in Colombia

English Abstract: Through the presentation of the history of social justice in global constitutional discourse, this article aims to demonstrate that, although in Colombia there is not a constitutionalized purpose or principle of social justice, as in other countries, the modern notion of distributive justice, also called social justice today, is implicit in the Constitution of 1991 because it enshrined as mandatory rules the three main elements of its meaning at the time of its promulgation: the principle of social rule of law, the principle of human dignity and the right to a material equality. Thus, in Colombia social justice must not be understood in the Aristotelian sense of distributive justice but in accordance with these three elements, and can only be achieved if they are fulfilled. Spanish Abstract: Mediante la presentación de la historia de la justicia social en el discurso constitucional global, este artículo pretende demostrar que, a pesar de no existir en Colombia, como en otros países, un valor o principio constitucional de justicia social, la noción moderna de justicia distributiva, también llamada hoy justicia social, se encuentra implícita en la Constitución de 1991 porque esta consagró como normas obligatorias los tres elementos principales de su significado en el tiempo en el que fue promulgada: el principio de Estado Social de Derecho, el principio de dignidad humana y el derecho a una igualdad material. Así pues, la justicia social debe entenderse en Colombia a partir de esos tres elementos, no según el sentido aristotélico de justicia distributiva, y sólo puede ser alcanzada si ellos se cumplen

Interest Rate Setting and the Colombian Monetary Transmission Mechanism

This paper is concerned with interest rate setting by commercial banks and how the transmission of monetary policy is re°ected in these rates. For this purpose we study the case of the Colombian banking industry for the period 1996-2004. Using microdata, the Certi¯cate of Deposit(CD) market and the credit market are studied for a balanced panel of 21 and 16 banks, respectively. The paper motivates the discussion with a theoretical model that explains how banks set their interest rates and how these are a®ected by the policy rate. Overcoming some of the empirical di±culties presented in other studies, this paper deals with them by performing panel unit root tests and panel cointegration tests. The results suggest that the transmission of the policy rate to the CD rate and the credit rate is on average high and quick. Additionally, rates react strongly to in°ation shocks, specially credit rates. Finally, the evidence presented shows the importance of banks' characteristics and in°ation as long-run drivers of interest rates.Banks, Monetary Policy, Interest Rates, Panel Data

Money and Real Fluctuations: Calibrating a Cash in Advance Model for the Chilean Economy

In this paper we assess the ability of a cash-in-advance model to replicate the behavior of the macroeconomic variables of the Chilean economy for quarterly data spanning between Q1:1986 and Q1:2000. The monetary models that we studied are able to replicate the phase shift and correlation with GDP of many macroeconomics variables such as consumption, price level and productivity. However, there are some other variables in which the model fails; namely money and capital stock. Introducing an "erratic" monetary growth rate improves the ability of the model to replicate the behavior of consumption. A sensitivity analysis shows that the main determinant of output volatility is the standard deviation of technology shock. Other deep parameters do not have an important quantitative effect on the cyclical behaviour of the macroeconomic variables.monetary fluctuations; real business cycles; general equilibrium

Energy loss as the origin of an universal scaling law of the elliptic flow

It is shown that the excellent scaling of the elliptic flow found for all centralities, species and energies from RHIC to the LHC for $p_{T}$ less than the saturation momentum is a consequence of the energy lost by a parton interacting with the color field produced in a nucleus-nucleus collision. In particular, the deduced shape of the scaling curve describes correctly all the data. We discuss the possible extensions to higher $p_{T}$, proton-nucleus and proton-proton collisions as well as higher harmonics.Comment: 10 pages, 2 figure

Entanglement through qubit motion and the dynamical Casimir effect

We explore the interplay between acceleration radiation and the dynamical Casimir effect (DCE) in the field of superconducting quantum technologies, analyzing the generation of entanglement between two qubits by means of the DCE in several states of qubit motion. We show that the correlated absorption and emission of photons is crucial for entanglement, which in some cases can be linked to the notion of simultaneity in special relativity

Determinants of Investment Flows into Emerging Markets

The understanding of foreign investment flows is important for emerging market policy makers, since such flows make up a considerable part of the balance of payments, and since such flows tend to be very volatile. Sudden stops or reversals of investment flows have, indeed, played an important part in recent emerging market crises. This paper presents a study of emerging market investment flows and their determinants. Using first a relatively simple cross-country framework to study investment flows in the year 2000 and then a panel-data framework to study such flows for the time period 1980 to 1997, a number of variables emerge as significant in determining investment flows. In general, large open economies with a high growth rate attract more flows than small closed economies with a sluggish growth rate. In addition, the results suggest that sound fiscal policies together with moderate debt levels results in higher levels of foreign investment. The business cycle in the developed countries also has an impact on such flows.Foreign direct investment; portfolio investment; developing countries

The impact of real estate projects and their sustainability characteristics on land values: cause or consequence? two case studies from Santiago, Chile

From the point of view of developers, there is the belief that location determines the main characteristics of real estate projects. On the contrary, the bid rent theory proposes that land receives value from that which it supports, as expressed by means of architectural attributes. In light of two case studies in Santiago, Chile, the relationship between land value and real estate value was studied with the aim of identifying the meaning of this causality and the role of sustainability characteristics – as an expression of emergent architectural attributes – in price formation. It was observed that the interaction between land value and architectural characteristics generates property price through circular causality, where there is a certain typology for each location that can produce submarkets. In this sense, sustainability attributes effectively influence the creation of value – but not linearly – which clearly suggests the presence of housing submarkets according to price level, and a new element in the relationship between land and architectural attributes.Postprint (published version

Zk\mathbb{Z}_k-stratifolds

Generalizing the ideas of $\mathbb{Z}_k$-manifolds from Sullivan and the theory of stratifolds from Kreck, we define $\mathbb{Z}_k$-stratifolds. We introduce the bordism theory of $\mathbb{Z}_k$-stratifolds in order to represent every homology class with $\mathbb{Z}_k$-coefficients. We present a geometric interpretation of the Bockstein long exact sequence and the Atiyah-Hirzebruch spectral sequence for $\mathbb{Z}_k$-bordism ($k$ odd)

El Mercado Laboral Urbano: Empleo, Desempleo y Salario Real en Colombia entre 1985 y 1996

Se estimó un modelo neo-clásico del mercado laboral, con respuestas lentas o ajustes parciales, para el caso de la evolución del empleo, el desempleo transitorio (definido como la diferencia entre el desempleo total y el permanente) y el salario real en el conjunto de las siete principales ciudades colombianas entre 1985 y 1996. Los resultados son consistentes con el modelo supuesto y, en particular, muestran que el empleo es sensible al salario real y al desempleo transitorio, y recíprocamente. Además, tanto el empleo como el desempleo transitorio y el salario real dependen simultáneamente de las tres variables exógenas incorporadas en el modelo: el producto, el costo de uso del capital y la población en edad de trabajar. En equilibrio, al cual tiende el mercado según el modelo, el desempleo transitorio es nulo, así que la tasa desempleo se hace igual a la permanente.