Search

Behavioral economics has applied psychology concepts related to cognitive analysis, which gives little importance to environmental effects. In contrast, the analysis of behavior gives a central role to the environment, and therefore employs concepts such as reinforcement schedules and stimuli control. In this document presents the cognitive-behavioral discussion about choice behavior. In addition, we compare their methods through two experiments dealing with the base-rate fallacy. In the experiments, the characteristics of the stimuli (verbal and non-verbal) are varied and contrasted. The paper concludes that this fallacy occurs on a smaller scale when there are less irrelevant stimuli. [ABSTRACT FROM AUTHOR]

This paper analyzes the pretrading transparency of the TRM futures market in Colombia and its relation to information asymmetry in out-of-stock trading operations between informed and uninformed agents. It is concluded that the transaction records are used by the market intermediaries to generate transactions outside of the available prices via the engine of the BVC and thus, take advantage of its dominant position as an informed agent. Additionally, it is argued that in order to eliminate this advantage, operations between agents classified own position (informed) and customers (not informed), should not be carried out via registration but only using the stock engine. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to analyze, with a new institutional economics framework, regulatory activity and its motivations. Better regulatory frameworks contribute to create an environment of legitimacy for the actions of the State. Nevertheless, this legitimacy can only be achieved by ensuring the efficiency and effectiveness of such frameworks in relation to the aim pursued such as correct market failures, reduce inequity failures, or generation of more competitive environments. [ABSTRACT FROM AUTHOR]

This paper uses Colombian data to compare the impact of inflation on the elderly and the general population. On average, the elderly spend a greater proportion on housing and health and less on education. Between December 2008 and May 2015, they experienced a higher inflation rate than the rest of the population. Lower income elderly households spend a higher share of their income on housing and food, and face higher inflation than wealthier elderly households. [ABSTRACT FROM AUTHOR]

Even though copyright is an institution which dates back to the 18th century, the economic analysis of copyright is relatively new; paradoxically it was not until 1934 with Plant's work when copyright economics started to emerge as a specialized field. This paper aims to draw an historical outline of copyright economics as a new area of economic analysis, focusing on its dilemmas and approaches, as well as on the main challenge for this institution in the digital era, unauthorized copy. [ABSTRACT FROM AUTHOR]

In this paper we note a complementary relationship between the Austrian school, based on the individual's role and markets, and institutional economics, which emphasizes the role of institutions in economic behavior. The idea of continuous improvement in corporate governance takes place in a system of complex and interrelated production in which the contributions of the various actors are necessary and difficult to quantify. Our working hypothesis is that institutions can to solve the distributional conflict and generate more productive organizations, while stimulating the entrepreneurial spirit. [ABSTRACT FROM AUTHOR]

This paper, examines the political costs that will have to be borne by farc; the Colombian military; Colombia's rightist politicians and elite and vested interests, internally-displaced people, the coca farmers, and Colombia's middle class. The analysis also touches on the roles and impacts of various other actors, such as bandas criminales and militant groups continuing to operate in Colombia, including the ELN. [ABSTRACT FROM AUTHOR]

The paper analyzes the European Union's global role as a main international actor on the basis of the components of power, the dimensions of global governance and its prospects as a regional project to manage to have a reading of their participation in the future international system. Within these future prospects, the role of the soft power of the EU will be highlighted as a civilian and normative power in global governance with new actors, interests and divergent values. This work is based on the hypothesis that the relational shift of power in international society is causing geopolitical and geo-economic dynamics conflicting with approaches to an effective multilateralism. Then the paper tries to answer or at least tries to shed some light on questions such as: Can the EU maintain its relevance as an international player in this changing world? Will it maintain relevance in their values and interests as a regional project? Should European international advocacy strategy be based simply on the field of soft power and effective multilateralism? [ABSTRACT FROM AUTHOR]

Capital flows have increased significantly in recent years and are a key aspect of the global monetary system. They offer potential benefits to countries, but their size and volatility can also pose policy challenges. The Fund needs to be in a position to provide clear and consistent advice with respect to capital flow and policies related to them. In 2011, the International Monetary and Financial Committee called for “further work on a comprehensive, flexible, and balanced approach for the management of capital flows". This paper proposes an institutional view to underpin this approach, drawing on earlier Fund policy papers, analytical work, and Board discussions on capital flow. [ABSTRACT FROM AUTHOR]

This paper presents the first application to Colombia of culturomics, a novel research method in the social sciences that describes cultural, social and linguistics trends based on the quantitative analysis of millions of digitized texts. The paper uses all news and editorials published during the past two decades in three national periodicals in order to analyze the trajectories of several social and economic phenomena: corruption, economic optimism, the relative power of the judicial branch, etc. Beyond its specific findings, this paper showcases how culturomics can be used to describe the changing reality of a developing country. [ABSTRACT FROM AUTHOR]

This paper presents evidence that macroeconomic accounting models helped to anticipate the credit crisis and economic recession, whereas equilibrium models, ubiquitous in mainstream policy and research, did not. This study traces the intellectual pedigree of the accounting approach as an alternative to neo-classical economics, and the postwar rise and decline of flow-of-funds models in policy use. The paper includes contemporary case studies of both types of models, and considers why the accounting approach has remained outside mainstream economics. Finally, it provides constructive recommendations for revising financial stability evaluation methods, and advocates an 'accounting of economics'. [ABSTRACT FROM AUTHOR]

The economic theory of rational choice was accepted for decades as a general theory to explain human behaviour which other social sciences lack. This paper reviews some limitations of the former. Through cognitive psychology, the paper describes the cognitive biases of people when assessing data and making choices, which puts into question the idea that the human mind is programmed to follow the assumptions of rational choice. On the other hand, the increased risks in modern civilization (monetary, ecological, geopolitical) and their global character define our society as "the society of global risk". The author discusses the limits of our rationality in regard to making choices as a troubling issue for coping with increasing global risks. [ABSTRACT FROM AUTHOR]

This paper reviews the current evidence on the incidence of the corporate tax from Harberger-type general equilibrium models, with special attention to the open economy. The analysis identifies the major drivers of the results from open-economy models and compares estimates from four major studies that have examined corporate tax incidence in an open economy. Adjusting estimates from the studies to reflect central empirical estimates of key elasticities suggests that capital bears the majority of the corporate tax burden. The paper also presents an alternative method, based on the new view of property tax incidence, for allocating the corporate tax burden that distinguishes between the global effects of corporate taxes and excise effects that vary among nations. [ABSTRACT FROM AUTHOR]

The paper reviews and discusses the literature on the concept of incentive in management; the visions of ancient Greek philosophers, classical economists, scientific management, agency theory, contracts, property theory and transaction costs theory. The discussion shows that the transaction costs theory, with its central idea of forms of governance, constitutes a comprehensive view of incentives that explains what are the inexplicable paradoxes for other theoretical perspectives. The paper analyzes the relations between incentives and helps to build up a theoretical and useful formal model of incentives. [ABSTRACT FROM AUTHOR]

This paper offers a detailed presentation of the Skaperdas and Syropoulos model; one of the main models of the theory of conflict and state emergence. First, it describes the model's Nash equilibrium and the relevant effects of comparative analysis. And second, from a new interpretation of the equilibrium and comparisons with other similar models, the paper concludes that it constitutes the most general analytical framework in the subject, which can be understood as the foundations for a general theory of conflict and state emergence. [ABSTRACT FROM AUTHOR]

This paper suggests that the best way to evaluate and drive development policy is to understand the root causes that explain the political economy restrictions limiting the developmental effectiveness of multilateral and bilateral institutions. To mitigate the deleterious effects of collective action restrictions this paper recommends a twopronged interdependent strategy: an enhanced use of ex ante evaluation in all interventions and through a more intensive application of the paper trail approach; and changes of constitutional rules or macro-institutional conditions which determine the decisions made in all institutions. [ABSTRACT FROM AUTHOR]

Recently, some papers have been published that examine the relation between economic history and institutional economics, and propose a closer relation between these two disciplines. This article shows how the theoretical and methodological foundations of the different institutionalist programs are enriching research in economic history, giving it more rigor. Furthermore, using papers from Hodgson, North and Greif, this article reviews the contributions of traditional institutionalism, New Institutional Economics and Historical and Comparative Institutional Analysis. It ends by proposing a research program that emphasizes the historical studies of institutions and enriches economic analysis. Economic history should not be seen as a subaltern discipline; it should be treated at the same level as economics, as Schumpeter wanted it. [ABSTRACT FROM AUTHOR]

This empirical research analyzes the determinants of Colombian household revenues and expenditures. Using a life cycle model with data from the national household survey 1994-1995, the paper shows how the behavior of household income is mainly affected by demographic characteristics and by the social-occupational characteristics of its members. Expenditure behavior is determined principally by income and secondly by the social characteristics of the household and by the expenditure of other households with similar characteristics. The paper also analyzes the influence of income uncertainty on households expenditure, to see if the effect is due to a motive of precaution. [ABSTRACT FROM AUTHOR]

This paper studies the evolution of violence in South America. It analyzes and discusses the influence of different economic variables on homicide rates, using an econometric test based on data of some South American countries during the period 1995-2000. It shows that this economic approach can be usefull but can also be dangerous when it leads to the wrong policies of social exclusion. Furthermore, it also shows how variables such rapid urbanization, low education, and inefficient regulations, together with corruption, play an important role in the generation of violence in South America. Finally, the paper recommends changing the way of perceiving economics and its social implications, by examining the interaction of this discipline with other social sciences. [ABSTRACT FROM AUTHOR]

This paper shows one type of asymmetric information problems, their theoretical implications, the design of contracts that mitigate them, as well as some experimental evidence. Furthermore, by extrapolating the results, the paper tries to illustrate certain macroeconomic implications obtained under a controlled environment. [ABSTRACT FROM AUTHOR]

Entrepreneurship has become a prominent and strategically important issue when talking about the driving forces of prosperity and job creation. However, entrepreneurship seems to be poorly defined. The paper studies central assumptions by questioning what many contemporaries take for granted. The paper shows that it is necessary to define the term "entrepreneurship". Recent arguments should distinguish the difference, sometimes contradictory, between the phenomenon of dynamic fast growing firms and that of the emergence of new microenterprises of the self-employed that have neither the intention nor the possibility of growing. Economic policy debate should specify more precisely what is really meant when talking about entrepreneurship. [ABSTRACT FROM AUTHOR]

In this paper, the importance of Ito's lemma in the field of corporate finance is highlighted. Thus, the main application fields are identified when stochastics processes adapt following the Black-Scholes-Merton valuation model of financial options and the partial differential equation to model the value of real assets and investment projects under the CCA approach. These developments have allowed to manage corporate problems, following the same structure of financial options models. Similarly, the advantages of this application in order to make valuations under uncertainty are highlighted, so that it could be overcome the limitations of the traditional approach (discounted cash flow - DCF). [ABSTRACT FROM AUTHOR]

In recent years, various Latin American governments have attempted to render migrants as agents of development, mainly by channeling remittances to specific sectors such as housing and finance. The existing literature has yet to articulate how these new developments are reconfiguring the political economy of housing in the region. Drawing on empirical data collected at both ends of the Colombia-uk migration network, this paper argues that these efforts aim to institutionalise remittance flows and their associated transnational socio-economic activities. They are underpinned by the repositioning of housing from a consumption to an investment item, and as a driver of economic growth; as well the positioning of the financial sector as the main means for households to access public and private housing, and other basic services. These developments have taken place in the context of a broader process of financialisa-tion of the global poverty agenda in the last three decades. [ABSTRACT FROM AUTHOR]

The Colombian Government has adopted a policy to improve communication skills in English at all education levels and especially in higher education, but little has been written about the achievements of the policy. This paper examines changes in the distribution of students' English proficiency level between the start and completion of their higher education programs. The results suggest an improvement in the distribution after graduating from higher education, characterized by a greater impact at higher scoring levels and an increased polarization. [ABSTRACT FROM AUTHOR]

For several years, without any justification and against all available evidence, it has been said that in Colombia 400,000 clandestine abortions are performed each year. This paper seeks to test the validity of this number. First, it provides an overview of what could have been the original source of this figure, and then it shows that this hasty calculation is inconsistent with a rigorous study of induced abortion made in 1992. Also, it analyses different sources of information that contradict those assessments; exposes the difficulties inherent in estimating the magnitude of illegal activities; and criticizes one methodology. Finally, it estimates the range of the number of annual abortions based on the Demographic and Health Surveys. [ABSTRACT FROM AUTHOR]

This paper uses a new measure of financial development to show that many benefits in terms of growth and stability can still be reaped from further financial development in most emerging markets. First, it defines financial development as a combination of depth, access and efficiency. Second, it highlights that the economic growth weakens at higher levels of financial development. Third, it indicates that the pace of financial development matters. Forth, it provides a new angle related to the tradeoffs of financial regulation. Finally, it finds that there is no "one-size-fits-all" in the sequencing of developing financial institutions versus markets, though as economies evolve the relative benefits from institutions decline and those from markets increase. [ABSTRACT FROM AUTHOR]

Economic and demographic growth in Colombia has been dominated by the largest cities. This has resulted in the common belief that Colombia is mainly an urban country. The aim of this paper is to show how economic and demographic growth has evolved, especially in terms of population density, since the mid-eighties. Using Markov transition chains and their spatial counterpart, we show that since the mid-eighties, municipalities have experienced a highly persistent pattern in which the main cities have maintained their position as the most densely populated. In contrast, municipalities that exhibited low levels of population density have remained relatively stagnant. [ABSTRACT FROM AUTHOR]

This paper is a review of the notions of value in economics and anthropology. In this review, the greater difficulty has been, indeed, the historical separation between disciplines that frequently have developed their theoretical conceptualizations about economic fact separately, while the cooperation attempts have had to overcome important methodological and formal differences. However, the analysis of the main anthropological and economic contributions has shown the necessity to re-examine the foundations about value and to reflect on the use of this concept. [ABSTRACT FROM AUTHOR]

What do economists mean when they talk about 'capital accumulation'? Surprisingly, the answer is anything but clear. The conventional view is that there are two types of capital, real and financial; that these two capitals should correspond to one another; and that, unfortunately, most of the time they don't: in general, goes the argument, the growth of financial capital tends to mismatch and distort the accumulation of real capital. The paper shows this 'mismatch thesis' - and therefore the ability of economists to explain accumulation - to be built on foundations of sand. Economists, it argues, cannot measure real capital in the first place, and the proxies they devise for that purpose entangle them in logical circularities and empirical impossibilities. [ABSTRACT FROM AUTHOR]

The objective of this paper is to explore the characteristics of populism from the experience of Ecuador, one of the countries in Latin America that has had more processes of this type. The idea is to identify similarities in the way that the populist style of leadership is exercised from four cases despite the existing differences between these political leaders: Jose Maria Velasco Ibarra, Abdala Bucaram Ortiz, Alvaro Noboa Ponton, and Rafael Correa. The argument is that, unlike the prevailing approaches in Ecuadorian literature, populism must be understood as a style of leadership that occurs between leader and follower, which has a series of characteristics that are maintained throughout time, regardless of the contextual and systematic differences. [ABSTRACT FROM AUTHOR]

For a number of years now, analyses of the political participation of women have warned of a very low presence of these in the various parliaments of the world. The diagnosis of female underrepresentation was a warning sign for different international organisms, which initiating from successive calls started to plan a review of the situation so that various countries would commit themselves to adopt measures to modify it. This paper has the goal of describing the current outlook of women and politics in Latin America, with special attention paid to the Colombian case, focusing fundamentally on the adoption of gender quotas as a strategy of positive discrimination that might contribute to a larger participation of women in the politics of the region. [ABSTRACT FROM AUTHOR]

This article aims to understand the dynamics of the political transnationalism of Colombian migrants in New York City and the northern area of New Jersey during the 1990-2010 period from the processes of contempt and moral suffering (social stigmatization), the implications of these processes in the migrants' identity/autonomy (as generators of identity wounds) and their search for social recognition. The paper begins with a characterization of the Colombian migration to that setting. Then it shows the experiences of moral contempt faced by Colombian migrants in the contexts of origin and arrival. In the context of origin such experiences were linked to social and political polarization, violence, inequality and strong barriers to upward mobility, while in the context of arrival these experiences were related to the stigma of drug trafficking, the dynamics of cultural racism, discrimination because of low English proficiency, and the absence of a legal immigration status. Finally, the article discusses the participation and mobilization (mainly at informal and collective levels) of Colombian migrants in relation to the search for social recognition. [ABSTRACT FROM AUTHOR]

Women population migrations are very significant in the broader international migration phenomenon, not only because of the number of people involved, but also because they have their own particular characteristics which distinguish them from male migrations. Gender perspective, being applied to migration studies, has been very useful in demonstrating that migration is a gendered phenomenon and it has added depth to the specific understanding of female migration. This article focuses on Colombian flows to Italy, a scarcely studied phenomenon with interesting particularities, such as: its strong heterogeneity, the high female presence, and the variety of itineraries female have. Framed within the gender perspective, this paper aims to observe the differences between men's and women's migration experiences, in order to define some of the gender inequalities and their intersection with other inequalities that arise from certain social categories involved during the migration. It focuses on the family, an important place of analysis since within it gender relations are expressed with great determination and at the same time it changes with migration, contributing to modify women's social and family status. Changes in gender relations do not point only in one direction in such flows, as women have different trajectories showing that they are often active, independent and autonomous actors, able to articulate advantages and disadvantages present during the migration process. [ABSTRACT FROM AUTHOR]

The analysis of innovative processes such as securitization leads to asking if the behavior of economic agents is a response to the institutional changes with specific objectives, or if the changes in the regulatory regime are the result of market behaviour or needs of the economy. The objective of this paper is to apply the theory of institutional change of North (agent, source, process and way of change) to examine the Colombian market in the period 1993-2013 in order to explore the main events which had an influence on the performance of securitization in general, and mortgage securitization in particular. [ABSTRACT FROM AUTHOR]

Cooperation among firms can be analyzed from different theoretical perspectives. The objective of this paper is to analyze firm networks from the perspective of team theory and club theory. Even though these theories are not recent in economics, using them as a theoretical framework for the characterization of firm networks could be a novel contribution. We can infer that aspects of both theories could be combined to explain cases of cooperation. [ABSTRACT FROM AUTHOR]

This paper is an approach to the study of the working poor in Colombia. The purpose is to analyze poverty linked to types of labor insertion, Using data from the Continuous Household Survey and the Large Integrated Household Survey, it analyses main poverty indicators for the workers, and poverty decomposition by geographical area between 2002 and 2012. In addition, it offers a socio-demographic and occupational characterization of the working poor, concluding that the composition of the labor market and the type of labor insertion are determinants of low income. [ABSTRACT FROM AUTHOR]

The 1949 World Bank mission headed by Lauchlin Currie recommended an integral attack on the interlocking vicious circles of underdevelopment through a widening of domestic and international markets and a reform of macroeconomic policy formulation. In 1950 Currie was invited by the Colombian Government to return as adviser to a new national planning board. In 1952 Albert Hirschman was also hired as an adviser to this board. This paper discusses the heated disagreements between these two distinguished economists, their influence on the theory and practice of economic development in Colombia and of the World Bank, and in particular their focus on planning based on an integral program versus individual project approaches to planning. [ABSTRACT FROM AUTHOR]

This paper proposes a new theoretical model to unerstand how defence and corruption networks associated to drug trafficking operate. Based on game theory and social network theory strategic interactions between drug dealers and their agents are analyzed. The model shows that network density is a main determinant of the survival probability of drug dealers and of wages paid to their security agents; and that the efficacy of law enforcement policies depends on network density. [ABSTRACT FROM AUTHOR]

The paper presents a newly compiled and improved database of national household surveys between 1988 and 2008. In 2008, the global Gini index is at 70.5 percent having declined by approximately 2 Gini points over this twenty year period. When it is adjusted for the likely under-reporting of higher? incomes in surveys by using the gap between national accounts consumption and survey means in combination with a Pareto-type imputation of the upper tail, the estimate is a much higher global Gini of almost 76 percent. With such an adjustment the downward trend in the Gini almost disappears. Tracking the evolution of individual country- deciles shows the underlying elements that drive the changes in the global distribution: China left the bottom ranks, modifying the overall shape of the global income distribution in the process and creating an important global "median" class that transformed a twin-peaked 1988 global distribution into a single-peaked one. The "winners" were country-deciles which in 1988 stood at the median of the global income distribution, 90 percent of which are from Asia in terms of population. The "losers" were the country-deciles in 1988 were around the 85th percentile of the global income distribution, almost 90 percent of which are from mature economies in terms of population. [ABSTRACT FROM AUTHOR]

This paper presents some theoretical components of comparative historical institutionalism components compared. It begins with an overview of the theory and the importance its followers give to institutions in the construction of the modern state, liberal democracy and economic development. Two analyses of Latin America are compared with Korea and Taiwan during the decades in which the development model predominated, while the second shows the progress undergone by the State in the region during the twentieth century. In addition to this, the return of the state is presented with a series of measures with a content that is different to its actions in Latin America is presented. Finally, some of the limitations of comparative historical institutionalism are shown to understand the region. [ABSTRACT FROM AUTHOR]

In the late 1970s and early 1980s, Guatemala, El Salvador and Nicaragua underwent a series of internal conflicts, largely as a result of economic and social inequalities and repressive political regimes, fueled by the policies of the two main superpowers at the time. Since 1996 when the peace agreements were signed the presence of private security companies in Guatemala has increased significantly, given the climate of insecurity and demand for protection by society at large. The provision of security by the private sector is challenging the state's role as the main actor responsible for the security and safety of citizens and the protection of their assets. In the absence of an efficient legal system or regulatory structure, these private sector activities raise issues of legality, legitimacy, and accountability in the area of security policy. This paper seeks to analyze the state of control and supervision of the private sector in the field of public security in Guatemala. [ABSTRACT FROM AUTHOR]

This paper inquires about the discourse of extractive development, which is facilitated by juridical frameworks of illegality. This discourse collides with views and practices of local development in the Remanso Chorrobocon Indigenous Mining Area. The theoretical framework intersects critical development studies, political ecology and legal pluralism. And the methodology complements media coverage, norms review, primary and secondary literature review, participant observation, and field work in Inirida and the Indigenous Mining Area. [ABSTRACT FROM AUTHOR]

This paper is intended to develop the construction of an alternative approach regarding the reality of mining in Colombia. In contrast to its stigmatization, this article highlights the existing potential of inhabitants of the mining territories. In order to do this, the starting point is the study of trust as a trigger for social change. Then, the generalities of the political economy of gold mining are described and the problem of the supplying of gold to jewelers is addressed, in order to propose cooperative solutions with economic and social benefits for the mining community. [ABSTRACT FROM AUTHOR]

The Socialist Federal Republic of Yugoslavia began to disintegrate in 1991. Such a milestone in Europe resulted in the reconfiguration of borders and internal struggles. Where there had previously only been one independent state, six new ones were established. As a result, ethnic conflict emerged which brought forth questions regarding national movements. The objective of this paper is to question the adequacy of the constructivist approach in addressing this concern. An essential component to understanding the argument raised involves analyzing the political actors and, most importantly, the elite among them, who play a central role in their national identities. With this in mind, each case will be analyzed from a historical-comparative approach and aim to establish any similarities present among them. Rather than focusing on the inevitability of Yugoslavia's' break up, issues relating to circumstantial and identity formation will be discussed for each republic. [ABSTRACT FROM AUTHOR]

This paper presents the concept of negative campaigning, and discusses its risks and potentials as a political communication strategy. Then, a codification matrix is proposed which has been designed by integrating a set of variables, and its respective dimensions and indicators. The purpose was to generate a tool that would allow researchers to gain precision when analyzing any negative campaign as a study subject. [ABSTRACT FROM AUTHOR]

This paper explores the problem of the orchestration of communication, understood as the constant and systematic repetition of one or various issues by means of different propaganda tools, and its adecuation to diverse publics. In this case, the concepts are applied the electoral communication domain. For this purpose, three critical moments in the design of a general strategy of communication were selected. [ABSTRACT FROM AUTHOR]

The classical model for the behavior of the price of risky assets assumes constant volatility, which usually does not match the behavior of real assets. Alternatively stochastic volatility models, which have a higher number of parameters and difficulty in estimation arise. In the paper stochastic volatility models are described in the context of state space models, and how it may be done by applying the MCMC estimation algorithms. The problem of estimating the likelihood function in this type of models is considered, and how the Gibbs sampler is used in these cases. The empirical application is performed using series of Colombian stocks and concludes on the estimated volatility processes in the unobserved values ?? of such series. Extension to models with non-Gaussian noise and jumps is proposed. [ABSTRACT FROM AUTHOR]

The paper analyzes the changes occurred since the VI EU-LAC Summit, in Madrid in May 2010, on the relationship between the European Union and Latin America. A change continued with the Celac-EU Summit, held in January 2013, which presents evidence of bi-regional strategy and the full import of the most significant commitments to build that relationship: regional integration and social cohesion. Latin America and the European Union should strengthen their bond and extrapolate on other institutions and settings of the current post-Cold War geopolitical order. A scenario where they share views and concerns and whose response, in any case, must come from a joint position and shared perspective. [ABSTRACT FROM AUTHOR]

This paper analyzes the political nature of taxation, which helps to explain why adoption from the model sponsored by the IMF in Latin America, especially after the debt crisis, has not been homogeneous. Colombia is taken as a case study to show how tax reforms depend on the political process in Congress, which opens a gap between the bills, inspired by IMF, and the final laws. Finally, it raises some arguments that suggest the special interests' role in the design and application of tax policy, which interact without being necessarily reconcilable and can also explain the divergence between bills and laws. [ABSTRACT FROM AUTHOR]

This paper analyzes the characteristics of job flows in the Colombian manufacturing sector between 1994 and 2009, at the industry group level and for the occupational categories. The results suggest high levels of job creation and job destruction in manufacturing firms, which are not usually evident in the figures of net employment growth. Similarly, we find that job creation and job destruction are persistent. Finally, the results at a disaggregated level indicate significant differences by industry group and occupational category. [ABSTRACT FROM AUTHOR]