Documentos CEDE
Accede a las publicaciones que reúnen trabajos de profesores/as e investigadores/as de la Facultad de Economía, basados en información del Centro de Datos CEDE. Presentan análisis económicos y resultados preliminares que aportan evidencia y abren discusiones académicas sobre temas relevantes para el país.
Documento CEDE 2023-08
JEL: A12, A13, B11, B13
The founding question in economics of how the market works, and thus, the question of value and prices, was part of a larger question on social coordination during the Enlightenment. This broader context implies an exploration of human nature and, in the case of Adam Smith, of the principles of the human mind. The interpretation of Smith's theory of value has received much attention over the years, with some claiming it as a labor theory or a cost of production theory. I propose an alternative interpretation of Smith's theory of value as an expression of social interactions, specifically through the taste of beauty, or aesthetic need.
08-03-2023
Documento CEDE 2023-07
JEL: A13, B11, B31
Bernard Mandeville denunció las dimensiones morales y prácticas de la filosofía moral de su tiempo por elitista y contraria a la naturaleza humana. Según Mandeville, las explicaciones y recomendaciones de esta filosofía moral eran inadecuadas para entender y gobernar la sociedad comercial. Mandeville exploró las teorías existentes sobre la naturaleza humana y las escudriñó a la luz de lo que presentaba como hechos para mostrar sus contradicciones. De esta manera, Mandeville presenta, aún hoy en día, un desafío: aceptar las cosas como son o asumir la responsabilidad de la transformación. Este ese el desafío que pretendo explorar en este documento. Podemos continuar viviendo en una sociedad profundamente desigual basada en el orgullo y la vergüenza o podemos crear incentivos que lleven a un cálculo diferente de pasiones en línea con un criterio utilitarista.
07-03-2023
Documento CEDE 2023-06
JEL: D71, D72, D74, P16
This paper studies the causal effect of political violence against Union Patriotica (UP) on electoral behavior in the local power elections (Mayor and Municipal Council) held in Colombia between 1984 and 2007. Through an empirical strategy of event studies, I provide evidence for municipal Council elections that suggests that political violence against the UP generated an increase in votes for traditional parties between 0.15 and 0.26 standard deviations (SD). Furthermore, it reduced the votes for left-wing parties between 0.53 and 0.92 DE and decreased political participation between 0.27 and 0.44 SD. Finally, in Mayor elections I found that violence against this community produces a decrease in electoral participation between 0.2 and 0.24 SD.
06-03-2023
Documento CEDE 2023-05
JEL: A13, B12, B31
Adam Smith incluye comprender y entender como parte de las necesidades humanas básicas. Los seres humanos tienen necesidades espirituales y materiales que pueden satisfacer a través de la coordinación y la cooperación. En ambos casos requieren comunicarse. La filosofía y la religión surgen cuando las personas comunican sus explicaciones sobre su entorno y sus interacciones. Se trata de creencias compartidas que influyen el comportamiento y le permiten a las personas comprender y pertenecer. La religión y la filosofía ofrecen tranquilidad de espíritu y satisfacen el deseo de ser amado y amable.
05-03-2023
Documento CEDE 2023-04
JEL: G41
This research offers a standardized measurement of Financial Well-being in Colombia and proposes a predictive analysis to identify the factors associated with this index. The analysis is based on the Graded Response Models (GRM) and XGBoost supervised learning models, using data from the CAF Financial Capacities Survey in 2019, and from the Banca de las Oportunidades Financial Inclusion Demand Survey in 2022. First, we find that the average Financial Well-being score in Colombia is 45.77 in 2019 (on a scale of 0 to 100), compared to 48.55 for 2022, which shows an improvement in all socioeconomic levels, even after the crisis of the COVID-19 pandemic. Second, a predictive analysis of the data showed that financial attitudes and behaviors are more relevant in predicting the level of financial well-being than
the use of digital financial services. This shows that the levels of financial well-being cannot be identified only from the use and access of technologies associated with digitality in financial services, but rather it is necessary to know the broader context of the individual. The analysis of the results evidences that people of different backgrounds, income and socioeconomic categories can achieve high levels of financial well-being, depending mostly on good financial behaviors and attitudes. The findings of this document not only aid in the planning of long-term financial education policies that aim to reduce gender inequality, by focusing on improving the level of financial well-being, but also justify the use of the constructed index as a tool for diagnosing and monitoring financial well-being in Colombia.
04-03-2023
Documento CEDE 2023-03
JEL: J13, J16, J46
The persistence of gender inequalities in the labor market is a widespread phenomenon. One of the relevant factors that explain the persistence of these differences in the labor market is maternity. Based on a series of household surveys, this paper estimates the effect of having children for the first time on indicators of paid and unpaid work, by gender. The results show that the birth of the first child reduces mothers¿ participation and hours worked per week, increases their rate of informality and self-employment,
and decreases their rate of salaried employment. Results for parents show an increase in participation and hours worked. In addition, there is evidence of a significant increase in the number of hours that mothers dedicate to unpaid work. These results suggest that the unequal distribution of the burdens associated with raising children leads to the desertion of mothers in the labor market or, in parallel, to a transition to informal occupations.
03-03-2023
