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- ÍtemAcceso Abierto
Green Jobs and the Green Transition in Latin America and the Caribbean: A Labor Market Analysis Using Job Vacancy Data(2025-06-28) García Suaza, Andrés Felipe, Andres; Caiza-Guamán, Pamela; Sarango-Iturralde, Alexander; Romero-Torres, Bernardo; Buitrago, Catalina; Grupo de investigaciones. Facultad de Economía. Universidad del RosarioThe green transition represents one of the most significant transformational forces in the labor market in the coming years. This paper analyzes the incidence of green jobs in four Latin American countries using information from job vacancy data. The results reveal a low incidence of demand for jobs with green potential or for new and emerging occupations related to the green transition. Such occupations are characterized by requiring high levels of education and offer a significant wage premium. These results highlight the main challenge of the green transition, which lies in the need to implement training processes, while revealing opportunities for the creation of high-quality jobs in the region. - ÍtemAcceso AbiertoMaturity transformation and deposit franchise in Latin American banks(2025-05-13) Castro Iragorri, Carlos Alberto; Medellín Martínez, Juan Camilo; Grupo de investigaciones. Facultad de Economía. Universidad del RosarioEste artículo analiza el papel de la franquicia de depósitos en la mitigación del riesgo de tipo de interés entre los bancos comerciales de América Latina durante el período 2005–2023. Utilizando estimaciones individuales por banco y un conjunto de datos en panel a través de múltiples países, estimamos las betas de gastos—la sensibilidad de los costos de financiamiento ante cambios en la tasa de política monetaria—como una medida de la solidez de la franquicia. Encontramos que los bancos latinoamericanos presentan betas promedio del 10 %, significativamente menores que el 35–40 % observado en bancos de EE. UU. y Europa, lo que indica fuertes efectos de franquicia. Asimismo, hallamos que los costos operativos y el poder de mercado, más que el tamaño del banco, explican la variación en las betas. Si bien los aumentos en las tasas de interés reducen los volúmenes de depósitos y préstamos, tienen efectos limitados sobre los ingresos, lo que subraya el papel estabilizador de la franquicia.
- ÍtemAcceso AbiertoUnequal impacts of AI on Colombia's labor market: an analysis of AI exposure, wages, and job dynamics(2025-04-21) García Suaza, Andrés Felipe; Sarango-Iturralde, Alexander; Caiza-Guamán, Pamela; Gil Díaz, Mateo; Acosta Castillo, Dana; Grupo de investigaciones. Facultad de Economía. Universidad del RosarioThe rapid advancements in the domain of artificial intelligence (AI) have exerted a considerable influence on the labor market, thereby engendering alterations in the demand for specific skills and the structure of employment. This study aims to evaluate the extent of exposure to AI within the Colombian labor market and its relation with workforce characteristics and available job openings. To this end, we built a specific AI exposure index or Colombia based on skill demand in job posts. Our findings indicate that 33.8% of workers are highly exposed to AI, with variations observed depending on the measurement method employed. Furthermore, it is revealed a positive and significant correlation between AI exposure and wages, i.e., highly exposed to AI earn a wage premium of 21.8%. On the demand side, only 2.5% of job openings explicitly mention AI-related skills. These findings imply that international indices may underestimate the wage premium associated with AI exposure in Colombia and underscore the potential unequal effects on wages distribution among different demographic groups.
- ÍtemAcceso AbiertoStability focused end to end frameworks for risk budgeting portfolios(2025-03-05) Parra-Diaz, Manuel; Castro Iragorri, Carlos Alberto; Grupo de investigaciones. Facultad de Economía. Universidad del RosarioLos avances recientes en el aprendizaje profundo han impulsado el desarrollo de marcos de trabajo de extremo a extremo para la optimización de carteras que utilizan capas implícitas. Sin embargo, muchas de estas implementaciones son altamente sensibles a la inicialización de la red neuronal, lo que afecta la consistencia del rendimiento. Esta investigación presenta un marco de trabajo robusto de extremo a extremo diseñado para carteras de asignación de riesgo, que reduce eficazmente la sensibilidad a la inicialización. Es importante destacar que esta mayor estabilidad no compromete el rendimiento de la cartera, ya que nuestro marco supera de manera consistente el punto de referencia de paridad de riesgo.
- ÍtemAcceso AbiertoMSMEs and the Cost of Using Capital(2025-01-30) Fernández Mejía, CristinaMicro-business populate most of the demography of firms in developing countries. However very often this firms are discouraged to hire skilled workers and to accumulate capital, and therefore to be productive. The lack of incentives to accumulate capital occurs not only because interest rates are decreasing in capital, but also because they are subject to tax deductions that cannot be used by firms too small to be subject to taxes. This paper estimates a general equilibrium model that includes an endogenous extensive and intensive margin of informality, a tax structure that considers waivers to small firms and deductions to larger firms, capital and a cost of using it that follows a logistic function behavior, resembling what is found in the data. The model is calibrated for the case of the manufacturing sector in Colombia. Simulations suggest that policies oriented to increase the use of capital in one group, without any more policies to reduce the average cost of using capital, imply an increase of the cost of using capital for other groups. Therefore, policies to reduce the informal distortion of using capital can increase formal firm’s productivity but reducing the size of the formal sector, thus harming overall productivity. On the other hand, policies oriented to reduce the size distortion of using capital can increase formality maintaining output and productivity relatively stable, because both tales of the productivity distribution are equally affected.
