ECONOMÍA FORMAL E INCLUSIVA: Lecciones, impacto y legado de la Alianza EFI
Esta publicación busca resaltar los aprendizajes, el impacto, y lo que queda como legado de la Alianza EFI para la sociedad y para la comunidad académica. La brevedad con que está escrito no le hace justicia al esfuerzo y horas de dedicación de más de ciento cincuenta investigadores, consolidados y en formación, y de un […]
Credit and saving constraints in general equilibrium: A quantitative exploration
In this paper we build an incomplete-markets model with heterogeneous households and firms to study the aggregate effects of saving constraints and credit constraints in general equilibrium. We calibrate the model using survey data from Colombia, a developing country in which informal saving and credit frictions are pervasive. Our quantitative results suggest that reducing savings […]
On the Aggregate Implications of Removing Barriers to Formality
This article examines the aggregate implications of several policies aimed at removing barriers to formality. To this end, we build a dynamic equilibrium model in which heterogeneous agents choose to work for a wage or operate a technology in the formal or informal sector, based on the costs and benefits associated with these occupational choices. […]
Informalidad, ciclos económicos y política fiscal: Una exploración de los nexos
Este trabajo tiene como objetivos ofrecer una visión panorámica acerca de la economía informal, sus determinantes y principales características en el caso colombiano; y, también, explorar las consecuencias de este fenómeno a nivel macroeconómico, enfatizando en los posibles efectos de la informalidad sobre los rasgos específicos de los ciclos económicos en los países emergentes, particularmente […]
Informality, tax policy and the business cycle: Exploring the links
Despite the worldwide prevalence of informality, consensus on a reliable and consistent set of drivers and consequences of this phenomenon has been elusive to both researchers and policymakers. This study partly addresses this shortcoming by exploring the interactions between the informal economy and tax policy and how these are shaped by business cycle uctuations. To […]