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Input-output linkages and sector-specific distortions in the Latin American development problem
(CAF, 2017-11-03)
In this paper, I analyze the Latin American development problem using a model with input-output linkages, sectorial productivity gaps, and sector-specific distortions. I provide a characterization of the sectorial linkages ...
The Effect of the Minimum Wage on Employment in Brazil
(CAF, 2017-10-16)
During the economic boom of the early 2000s, most Latin American countries increased their minimum wages. In Brazil, the real minimum wage increased by upwards of 60 percent from 2003 through 2012. In this paper, we take ...
Financial Frictions, Trade, and Misallocation
(CAF, 2017-10-07)
We investigate the extent to which financial frictions shape the aggregate effects of a trade liberalization through their impact on aggregate total factor productivity (TFP) and capital misallocation. We study a small ...
The Life-cycle Growth of Plants in Colombia: Fundamentals vs. Distortions
(CAF, 2017-10-05)
We take advantage of rich microdata on Colombian manufacturing establishments to decompose growth over an establishment’s life cycle into that attributable to fundamental sources of idiosyncratic growth ̶ physical productivity, ...
Education, signaling and the allocation of entrepreneurial skills
(CAF, 2017-10-02)
We assess the allocative importance of education when workers can choose to self-employ. To do so, we build a model combining educational choices with the labor market and selfemployment. Education can increase workers' ...
Trade Integration in Colombia: A Dynamic General Equilibrium Study with New Exporter Dynamics
(CAF, 2017-08-01)
We study Colombia’s trade integration over a 30 year period through the lens of GE model in which non-exporters have access to a risky exporting technology and exporters must invest in accumulating a better exporting ...
Capital Specificity, the Distribution of Marginal Products and Aggregate Productivity
(CAF, 2017-05-08)
This paper studies the role of capital specificity and investment irreversibility on the distribution of marginal products of capital and aggregate TFP. We use a methodology new to the misallocation literature, based on ...
A Taxonomy of Colombia’s Informal Labor Market
(2016)
A taxonomy of the informal labor market is extremely important to understand and handle informality, particularly in a country as Colombia where this phenomenon is large and heterogeneous. As we will argue in this paper, ...
People or places: the causes of spatial income differences in Brazil
(CAF, 2010)
This paper explores testable implications of a simple model of spatial heterogeneity in earnings, a model in which this spatial heterogeneity arises both from differences in the places that people work and differences among ...