We model the allocation of central bank liquidity among the participants of the interbank
market by using network analysis' metrics. Our analytical framework considers that a super …

We estimate two standard spatial econometric models in order to study the cost of
collateralized borrowing among Colombian financial institutions, and its relationship with …

ment of specific inflation targets, inflation-targeting regimes have been characterized by
increased transparency, enhanced communication with the public, and explicit …

After decades using monetary aggregates as the main instrument of monetary policy and
having different varieties of crawling peg exchange rate regimes, Colombia adopted a full …

Three metrics are designed to assess Colombian financial institutions' size, connectedness
and non‐substitutability as the main drivers of systemic importance:(i) centrality as net …

A core goal of regulators and financial authorities is to understand how market prices convey
information on the financial health of its participants. From this viewpoint we build an Early …

El mercado interbancario es un mecanismo importante de distribución de excedentes de
liquidez entre las entidades financieras, ya que puede proveer cobertura frente a las …

We set a dynamic stochastic model for the interbank daily market for funds in Colombia. The
framework features exogenous reserve requirements and requirement period, competitive …

Electronic copy available at: http://ssrn.com/abstract=2179608 Electronic copy available at:
https://ssrn.com/abstract=2179608 Page 1 Electronic copy available at: http://ssrn.com/abstract=2179608 …

Untitled Page 1 Page 2 Macro-prudential assessment of Colombian financial institutions’
systemic importance† Carlos León1 Clara Machado2 Andrés Murcia3 Banco de la República …