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  • Reciprocal Lending Relationships Between Financial Conglomerates: Evidence from the Mexican Repo Market 

    Cañón, Carlos; Florez-Acosta, Jorge; Gómez Portilla, Karoll
    This paper examines the reciprocal lending between Financial Conglomerates in the repo market to better understand both what motivates powerful firms to engage in this type of contemporaneous crossfunding relationships, ...
     Documento de trabajo. 2020
  • The internal labor markets of business groups 

    Huneeus, Cristobal; Huneeus, Federico; Larrain, Borja; Larrain, Mauricio; Prem, Mounu
    This paper provides novel micro evidence of labor mobility inside business groups. We show that worker flows between group firms are significantly more prevalent than between unaffiliated firms. We also find that groups ...
     Documento de trabajo. 2019
  • Generosity and Wealth : Experimental Evidence from Bogotá Stratification 

    Blanco, Mariana; Dalton, Patricio
    This paper combines laboratory experiments with a unique feature of the city of Bogotá to uncover the relationship between generosity and wealth. Bogotá is divided by law into six socio-economic strata which are close ...
     Documento de trabajo. 2019
  • Productivity and Sectoral Allocation : The Labor Market of School Principals 

    Muñoz, Pablo; Prem, Mounu
    An important question is whether differences in management can explain variation in productivity and whether different compensation schemes and selection policies can impact the allocation of managerial effectiveness. To ...
     Documento de trabajo. 2019
  • A segmented and observable Yield Curve 

    Castro-Iragorri, Carlos; Peña, Juan Felipe; Rodriguez, Cristhian
    Siguiendo a Almeida et al. (2018) implementamos un modelo segmentado de Nelson-Siegel de tres factores para la estructura a plazos, utilizando precios diarios de los TES en pesos y la tasa interbancaria de referencia para ...
     Documento de trabajo. 2019
  • One Step Ahead of the Law: The Net Effect of Anticipation and Implementation of Colombia’s Illegal Crops Substitution Program 

    Saavedra, Santiago; Ladino, Juan Felipe; Wiesner, Daniel
    Las políticas pre-anunciadas a menudo generan efectos de anticipación que pueden terminar en consecuencias no deseadas. Pero se sabe poco sobre la medida en que la implementación de la política puede compensar estos efectos. ...
     Documento de trabajo. 2019
  • Radiografia de la pobreza en Colombia 

    Saavedra, Santiago; Peña Tenjo, Nicolas
    La tasa de pobreza ha disminuido considerablemente en Colombia, pero todavia hay tres millones de colombianos que no tienen ingresos suficientes para cubrir sus necesidades basicas. En este artıculo presentamos caracterısticas ...
     Documento de trabajo. 2019
  • The rise and persistence of illegal crops : evidence from a naive policy announcement 

    Mejía, Daniel; Prem, Mounu; Vargas, Juan F.
    Well-intended policies often have negative unintended consequences if they fail to foresee the different ways in which individuals may respond to the new set of incentives. When widespread and persistent, these may lead ...
     Documento de trabajo. 2019
  • Job migration in a rivalry setting 

    Saavedra, Santiago; Fletcher, Robert
    La importancia de las redes sociales en la búsqueda de empleo y la migración han sido bien documentadas Sin embargo, la difusión amplia de información. a través de las redes cuando surgen oportunidades puede conducir ...
     Documento de trabajo. 2019
  • Local incentives and national tax evasion: unintended effects of a mining royalties reform in Colombia 

    Saavedra, Santiago; Romero, Mauricio
    Lograr una distribución justa de los recursos es uno de los objetivos clave de la política fiscal. Para hacer esto, los gobiernos a menudo transfieren recursos fiscales de áreas ricas a áreas pobres. En este articulo ...
     Documento de trabajo. 2019
  • Communal property rights and deforestation 

    Saavedra, Santiago; Romero, Mauricio
    Casi un tercio de la superficie forestal mundial está bajo titulación colectiva. En principio, este acuerdo podría conducir a una "tragedia de los comunes" y, por lo tanto, a una mayor deforestación. Pero monitorear la ...
     Documento de trabajo. 2019
  • Lost in Transition? The Persistence of Dictatorship Mayors 

    González, Felipe; Muñoz, Pablo; Prem, Mounu
    Dictatorships can affect the functioning of new democracies but the mechanisms are poorly understood. We study the Pinochet dictatorship in Chile using new data and provide two findings. First, mayors appointed by Pinochet ...
     Documento de trabajo. 2019
  • Corruption and Firms 

    Colonnelli, Emanuele; Prem, Mounu
    We estimate the causal real economic effects of a randomized anti-corruption crackdown on local governments in Brazil over the period 2003-2014. After anti-corruption audits, municipalities experience an increase in economic ...
     Documento de trabajo. 2019
  • The Evolution of Ownership Structures: Privatization, Business Groups, and Pyramids 

    Aldunate, Felipe; González, Felipe; Prem, Mounu; Urzúa I., Francisco
    What is the contribution of privatization to the formation of business groups and pyramids? We use new data to study how Pinochet’s privatizations in Chile (1973-1990) affected the evolution of ownership structures. Using ...
     Documento de trabajo. 2019
  • The Human Capital Peace Dividend 

    Namen, Olga; Prem, Mounu; Vargas, Juan F.
    A large body of literature has documented negative effects of civil conflict on the educational outcomes of affected children across different countries and historical periods. The opposite is however not obvious. Because ...
     Documento de trabajo. 2019
  • What predicts corruption? 

    Colonnelli, Emanuele; Gallego, Jorge; Prem, Mounu; Gallego
    Using rich micro data from Brazil, we show that multiple popular machine learning models display extremely high levels of performance in predicting municipality-level corruption in public spending. Measures of private ...
     Documento de trabajo. 2019
  • Motivating bureaucrats with non-monetary incentives when state capacity is weak : Evidence from large-scale field experiments in Peru 

    Dustan, Andrew; Maldonado, Stanislao; Hernandez-Agramont, Juan Manuel
    We study how non-monetary incentives, motivated by recent advances in behavioral economics, affect civil servant performance in a context where state capacity is weak. We collaborated with a government agency in Peru to ...
     Documento de trabajo. 2018
  • End-of-Conflict Deforestation : Evidence From Colombia’s Peace Agreement 

    Prem, Mounu; Saavedra, Santiago; Vargas, Juan F.
    Armed conflict can endanger natural resources through several channels such as direct predation from fighting groups, but it may also help preserve ecosystems by dissuading extractive economic activities through the fear ...
     Documento de trabajo. 2018
  • The Geography of Repression and Support for Democracy : Evidence from the Pinochet Dictatorship 

    Bautista, María Angélica; González, Felipe; Martínez, Luis R.; Muñoz, Pablo; Prem, Mounu
    We show that exposure to repression under dictatorship increases support for democracy and contributes to regime change when a democratic window of opportunity arises. Studying the military dictatorship of Augusto Pinochet ...
     Documento de trabajo. 2018
  • Can Facebook Ads and Email Messages Increase Fiscal State Capacity? Experimental Evidence from Venezuela 

    Gallego, Jorge A.; Ortega, Federico
    Tax compliance is a big challenge in weakly institutionalized countries, in which citizens do not trust the State and prefer to evade. Can compliance be increased, and hence fiscal state capacity strengthened, using online ...
     Documento de trabajo. 2018

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