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Juan Camilo Galvis Ciro 《Applied economics letters》2016,23(14):984-990
This article relates to the literature on sovereign risk in developing countries. In particular, we present empirical evidence to address the effect of inflation targeting credibility on sovereign risk based on the Colombian experience. The findings denote that credibility is an important improvement in the institutional framework to reduce the sovereign risk premium. 相似文献
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Francisco J. Bonilla-Escobar Martha L. Herrera-López Delia Ortega-Lenis Jhon J. Medina-Murillo Andrés Fandiño-Losada Ciro Jaramillo-Molina 《International journal of injury control and safety promotion》2016,23(2):179-188
This study's goal was to establish the prevalence of driving under the influence of alcohol (DUI) and alcohol consumption patterns among drivers in Cali, Colombia, in 2013. A cross-sectional study based on a roadside survey using a stratified and multi-stage sampling design was developed. Thirty-two sites were chosen randomly for the selection of drivers who were then tested for blood alcohol concentration (BAC) and asked to participate in the survey. The prevalence of DUI was 0.88% (95% confidence intervals [95% CI] 0.26%–1.49%) with a lower prevalence when BAC was increasing. In addition, a higher prevalence was found during non-typical checkpoint hours (1.28, 95% CI ?0.001%–0.03%). The overall prevalence is considered high, given the low alcohol consumption and vehicles per capita. Prevention measures are needed to reduce DUI during non-typical checkpoints and ongoing studies are required to monitor the trends and enable the assessment of interventions. 相似文献
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We compare the family of rational expectation equilibria with the ex-post Aubin core allocations in the framework of an economy
with uncertainty and asymmetric information. We do it in a very general setting: an arbitrary space of agents and an infinite
dimensional commodity space. We also present a characterization of the ex–post Aubin core by allocations belonging to the
core of the associated complete information economies, and we use a suitable definition of Edgeworth equilibria to characterize
the family of rational expectation equilibria. Moreover, we study some generalizations of the ex-post Aubin core obtained
by making some restriction on the families of blocking coalitions. 相似文献
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We assess the impact on demand and producers’ costs of a new technology implemented in the US auto industry, the 2 mm program. This is a fascinating case partially because of the unique collaboration among public agencies and a consortium of manufacturers and universities. Using a type of hedonic price model for demand, we show that the new technology was responsible for a short-lived increase in demand for vehicles produced by US automakers at increased producers’ costs. Firms that refused to participate in the consortium attained smaller net gains implementing the technology independently. Overall, our approach differs from that of previous analysts in that we (1) separate demand from supply, (2) employ a comprehensive vehicle database, spanning 1981–1998 data, including data on virtually all vehicle models sold in the USA, as well as data on plants’ and producers’ technology characteristics, and (3) rely on sales and production data rather than plant data. Also, we quantify the cost of not participating in the consortium. 相似文献
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This article evaluates the effect of central bank announcements on government securities yields in emerging economy. In particular, based on the Colombian experience, we present empirical evidence to address the effect of credibility scenario in which the central bank announcements are made. The findings denote that credibility performance must be taken into account to verify the impact of monetary policy announcements. 相似文献
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The literature on expectation disagreements in emerging economies is scarce. This paper examines the disagreements in inflation expectations for the Colombian economy during the 2010–2017 period. We combine empirical tests with an analysis of a monthly survey of expectations of financial analysts in Colombia to obtain valuable evidence to formulate guidelines on the expectations modelling in developing economies. The findings indicate that disagreements present inertia and that inflation volatility increases disagreements. However, the central bank’s stance, as established through a press release, can reduce disagreement. Moreover, if central bank communication is clear and there is a credible inflation target, there tend to be fewer disagreements. 相似文献
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Gisel V. Osorio-Cuéllar Sara G. Pacichana-Quinayaz Francisco J. Bonilla-Escobar Ciro Jaramillo-Molina María I. Gutiérrez-Martínez 《International journal of injury control and safety promotion》2017,24(2):145-151
This study's goal was to evaluate the pilot exclusive lane for motorcycles (Motovía) in Cali, Colombia, from the perception of its users in 2012–2013. A cross-sectional study using roadside surveys plus a qualitative component of individual semi-structured interviews was carried out. Road users' perceptions were investigated before and after implementation of lane dividers (LD) and were compared with other roads in the city. Perceptions were compared using chi-square tests. In the study, 293 motorcyclists, 111 cyclists, and 115 automobile drivers were interviewed. Following the installation of the LD, the majority of motorcyclists and cyclists reported that LD made easier the driving maneuvers and decreased travel time, in contrast to perceptions of automobile drivers (p < 0.001). For most motorcyclists, the Motovia was considered as safe and effective, approving its continuity and replication. Half of automobile drivers and cyclists did not approve the installation of the Motovia due to travel time (drivers) and security issues (cyclists). Motovia is an option to enhance motorcyclists' safety on the road. It must, however, offer clear circulation alternatives for automobile drivers. According to users' perception, it is not safe for bicycles and other human-powered vehicles to share lanes with motorcycles. Further research about vulnerable road users' infrastructure is required. 相似文献
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This paper uses quantile regression techniques to analyze the returns to education across the conditional distribution of wages from individuals separated both by gender and skin color, while accounting for the endogeneity of the education decisions. Using data from the Brazilian households survey (PNAD) for the years of 1988 and 1996, the results indicate that the returns to education are significantly heterogeneous across the distribution of earnings, as well as the wage gap between the groups, according to gender and skin color. Moreover, there has been a significant improvement in the wage differentials between the groups across the years. 相似文献
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