Los investigadores pertenecientes a la Escuela de economía y Finanzas publican sus documentos de trabajo. Con la publicación de éstos se pretende apoyar la difusión de investigación económica y financiera de alta calidad realizada dentro de la Escuela de Economía y Finanzas de la Universidad EAFIT. Los documentos se constituyen "en material provisional", se publican con el fin de estimular el debate académico. Están dirigidos a expertos, así, los lectores deben tener conocimiento de la economía y finanzas. Las opiniones y posibles errores son responsabilidad única y exclusiva de los autores y no comprometen a la Escuela de Economía y Finanzas, ni a la Universidad EAFIT.

Recent Submissions

  • Millennials and the gender wage gap: Do millennial women face a glass ceiling? 

    Garcia Cruz, Gustavo Adolfo; Gonzales Miranda, Diego René; Gallo, Oscar; Roman Calderon, Juan Pablo (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-09-10)
    This study aims to measure the gender wage gap among millennial workers in Colombia and determine if there is a marked wage difference between millennial women and men. Further, this study analyzes whether millennial women ...
  • The Unintended Consequences of the U.S. Adversarial Model in Latin American Crime 

    Zorro Medina, Angela; Acosta, Camilo; Mejía, Daniel (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-09-10)
    During the 1990s, Latin America experienced a criminal procedural revolution (LACPR) when approximately 70% of its countries abandoned their inquisitorial system and adopted the U.S. adversarial model. Following the LACPR, ...
  • Crecimiento y ciclos de la economía colombiana (2005 – 2019) 

    Posada Posada, Carlos Esteban (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-07-24)
    In 2005-19 Colombian economic growth was outstanding at the international level: GDP per worker increased 2.07% per year, equivalent to 36% in those 15 years. This was possible because total factor productivity (TFP) ...
  • The impact of effective corporate tax rates on investment 

    Ballesteros, Sebastián; Goda, Thomas (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-06-25)
    There exists an intense debate about the effects of corporate tax cuts on the formation of private capital in the real sector. This paper studies the investment impact of the effective fiscal burden of firms during the ...
  • Modeling electricity price and quantity uncertainty: An application for hedging with forward contracts 

    Trespalacios, Alfredo; Cortés, Lina; Perote, Javier (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-06-08)
    Energy purchases/sales in liberalized markets are subject to price and quantity uncertainty, which should be jointly modeled by relaxing the unreliable normality assumption for capturing risk. In this paper, we consider ...
  • Firm size and economic concentration: An analysis from lognormal expansion 

    Cortés, Lina; Lozada, Juan; Perote, Javier (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-06-08)
    This paper proposes a semi-nonparametric (SNP) generalization of the lognormal distribution for studying firm size and providing accurate measures for economic concentration and inequality in terms of the Gini index adjusted ...
  • An Estimate of Unidentified and Total U.S. Coronavirus Cases by State on April 21, 2020 

    Breton, Theodore (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-04-23)
    I use data on cumulative tests, positive tests, and deaths for the coronavirus in South Korea and the U.S. lower-48 states during April 2020 to estimate the extent of infection and the unidentified share of the infected ...
  • The Effect of Temperature on the Spread of the Coronavirus in the U.S. 

    Breton, Theodore (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-04-11)
    I investigate whether the cross-sectional data on cumulative (symptomatic) cases of coronavirus in the 48 contiguous states of the U.S. at the end of March 2020 provide any evidence that the rate of transmission of the ...
  • Decent work and healthy employment: a qualitative case study about Colombian millennials 

    Gallo, Oscar; Gonzales Miranda, Diego René; García, Gustavo Adolfo; Roman Calderon, Juan Pablo (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-04-04)
    The purpose of this paper is to show how a group of Colombian millennials perceive different aspects of working life and how their ideas about job satisfaction, professional expectations, and levels of autonomy are related ...
  • The Deterrent Effect of Surveillance Cameras on Crime 

    Tobón Zapata, Santiago; Gómez, Santiago; Mejía, Daniel (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-03-20)
    From the US to Colombia to China, millions of public surveillance cameras are at the core of crime prevention strategies. Yet, we know little about the effects of surveillance cameras on criminal behavior, especially in ...
  • Unconventional Monetary Policy and Inflation in the U.S.: How Much Inflation was Missing? 

    Posada Posada, Carlos Esteban; Torres García, Alejandro; Villca Condori, Alfredo (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-03-12)
    The U.S. inflation rate for the period 2008-2016 was abnormally low despite the execution of a high expansive monetary policy, which has been called “the missing inflation paradox”. In this paper we estimate the missing ...
  • An estimate of Total Factorial Productivity in Colombia at the level of departments and industrial divisions 

    Rivera Arbeláez, Mateo Andrés; Torres Garcia, Alejandro (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-03-11)
    In this paper, we estimate the Total Factor Productivity (TFP) for 11 departments and 20 industrial divisions in Colombia during the period 2012-2016. To this end, we employ a semiparametric method proposed by Levinsohn ...
  • Do better prisons reduce recidivism? Evidence from a prison construction program 

    Tobón Zapata, Santiago (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-02-26)
    From the US to Colombia, from India to Uganda, many inmates suffer from underprovision of services such as surveillance or rehabilitation in overcrowded prisons. Yet, we know little about how prison quality affects long-term ...
  • The Stock Market Reaction to Mergers and Acquisitions: Evidence from the Banking Industry 

    Lozada, Juan M; Cortés, Lina M.; Velasquez Gaviria, Daniel (Universidad EAFIT; Escuela de Economía y Finanzas, 2020-02-19)
    Mergers and acquisitions (M&As) are mainly a mechanism used in the Latin American banking industry to carry out business consolidation. This paper focuses on the effect of M&A announcements on stocks of Latin American banks ...
  • Confrontando un modelo DSGE con los datos 

    Villca, Alfredo (Universidad EAFIT; Escuela de Economía y Finanzas, 2019-12-01)
    In this document we try to answer a key question in macroeconomic modeling. How much does a stochastic model of general equilibrium reproduce the data? To answer this question we use three metrics. First, we compare the ...
  • Transición energética en Reino Unido para la integración de fuentes no convencionales de energía y redes inteligentes 

    Botero García, Jesús; Arbelaez, Juan Camilo; Garcia Rendon, John Jairo (Universidad EAFIT; Escuela de Economía y Finanzas, 2019-12-01)
    This paper describes the UK's energy transition to achieve 25% renewable energy generation by 2016 and reduce per capita CO2 emissions from 10,744.1 kg CO2/pc in 1990 to 6,560.2 in 2016. But at the same time, studies are ...
  • Transición energética en España e integración de fuentes de energías no convencionales 

    Garcia Rendon, John Jairo (Universidad EAFIT; Escuela de Economía y Finanzas, 2019-12-01)
    This paper reviews the transition that the Spanish electricity market has had to include non-conventional energy sources. Although in Spain CO2 emissions between 2000 and 2018 have fallen by an average of 4.5 MtCO2/habitant, ...
  • Fuentes renovables no convencionales y redes inteligentes en Brasil y Chile 

    Lopez, Gustavo; Garcia Rendon, John Jairo; Perez, Alex; Arbelaez, Juan Camilo; Chaparro, Silvia (Universidad EAFIT; Escuela de Economía y Finanzas, 2019-12-01)
    This paper presents the advances Brazil and Chile have made in non-conventional renewable energy sources (NCRE) and smart grids. Brazil, like Colombia, is highly dependent on water to generate energy, which has led to ...
  • Integración de fuentes de energías renovables no convencionales y redes inteligentes en Estados Unidos: evidencia para PJM1 

    Patiño Echeverri, Dalia; Correa Giraldo, Manuel; García Rendón, John (Universidad EAFIT; Escuela de Economía y Finanzas, 2019-12-01)
    Some of the challenges that have been faced in the North American markets with the inclusion of wind and solar power generation sources, consists in how to deal with the uncertainty and variability that these sources ...
  • Transición energética en Alemania e integración de fuentes de energías no convencionales 

    Botero García, Jesús; Cardona Vásquez, David; García Rendón, John (Universidad EAFIT; Escuela de Economía y Finanzas, 2019-12-01)
    German energy policy has undoubtedly been a worldwide benchmark for renewable energy. With the implementation of the Renewable Energy Sources Act in 2000, 36% of gross electricity consumption in 2018 came from renewable ...

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